Ageas Q1 results "significantly hit" by bad weather
UK CEO Andy Watson says provider wants to grow in commercial lines.
Ageas UK has posted a profit of €11m (£9.4m) for the first three months of 2018, compared to €1m in Q1 2017.
The insurer also posted a revenue of €445m (Q1 2017: €523m) and its combined operating ratio (COR) improved to 100.7%, compared to 110.0% in the first quarter of 2017.
Chief executive officer Andy Watson said the insurer had experienced a “significant hit” from the Beast from the East and storms Doris and Emma at the beginning of the year.
Household
Dividing the results into segments
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