CEO Watson "encouraged" by Ageas UK 2017 results
Insurer urges government not to delay new Ogden legislation as it moves back into profit.
Ageas UK chief executive officer Andy Watson has stated he is “very pleased and encouraged” by the underlying performance of the insurer in 2017.
“In a year where we’ve still had a residual Ogden impact it’s very encouraging that our results are showing the progress that we are making,” Watson told Insurance Age.
The provider’s UK business posted a net profit of €29m in 2017 (2016: loss of €156m) after revealing a €46m Ogden hit.
Its gross written premium (GWP) in motor dropped slightly
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