Ageas profit after tax slumps by half
The provider reported a result after tax of £22.8m compared to £45.4m in H1 2019.
Ageas has recorded a drop in its post-tax result of £22.6m and a slip in GWP from £609.5 to £603.8m for the first half of 2020.
The COR deteriorated slightly to 97.8% (H1 2019: 96.6%). Excluding weather impacts the COR was 93.9% (2019: 96.6%).
The provider said that COR improved over the second quarter as a result of reduced motor claims volumes but, while still sub 100%, has increased year on year as due to the Q1 2020 weather events.
It also flagged a strong second quarter net result, down
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