Ageas' retail profit remains static while COR continues to improve
Ageas' quarter three results have shown its UK retail operations, RIAS, Kwik Fit Insurance Services and Ageas Insurance Solutions (UKAIS), have delivered a 32% increase in total inflows to £96m.
The insurer said this had been driven by good customer retention, portfolio growth, add-on revenues, growth in partnership income and the addition of Kwik Fit Insurance Services (£17.6m).
Revenue excluding Kwik Fit Insurance Services increased 7.5% compared to the same period last year and the acquisition has added a further 600,000 customers to Ageas.
Overall the insurer's non-life combined ratio has improved to 102.0% in third quarter; 104.9% year to date; 106.5% at half year 2010; 110.2%
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