Ageas commercial COR improves to 109.9%
The new chief executive of Ageas UK, Andy Watson, has hailed the provider’s record profits while admitting it would not be looking to grow in commercial lines in 2013.
Speaking with Insurance Age after the provider reported over £2bn of group income in 2012, Mr Watson set out the philosophy as being only growing "where we think the environment is right".
He also revealed a full year commercial COR of 109.9% which was a one per cent improvement on 2011.
"The level of profitability is not where we want it to be and have an action plan in place to restore that," he explained.
"The market continues to be very difficult with over capacity and price rises are not
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