Ageas UK sees profit jump in 2018
COR improved to 96.8% for the year, but GWP fell across all of its divisions as results are announced amid business restructure.
Ageas UK’s net profit for 2018 jumped to £76.7m for the full year, from £25.4m in 2017.
In addition its combined operating ratio (COR) improved to 96.8% in 2018 (2017: 103.2%), while its operating profit increased to £82.0m (2017: £20.3m).
However, its total gross written premium (GWP) for the general insurance business, excluding Tesco Underwriting, decreased slightly from £1.36bn in 2017 to £1.23bn in 2018.
Motor
Looking at the individual business lines, GWP for the motor division also
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