Ageas reports 95.2% COR
The improved position was down to lower motor claims due to the lockdown as the insurer reports growth in broker deals for household and commercial.
Ageas has recorded an improved COR of 95.2% (2019: 98.7%) for the full year 2020 despite encountering difficult weather events in February, August and December.
Ageas said the COR was influenced by the improved claims environment in the motor space during the 2020 lockdown which saw fewer cars on the roads and fewer accidents which offset claims arising from storms and flooding.
Group income was £1.4bn, slightly down on the £1.5bn achieved in 2019. The insurer stated this was due to its
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