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Daily Insurance Industry News
Monday 19th of February 2018
November 9, 2011

Ageas UK reports excellent Q3 results

by Richard Kilner

Story link: Ageas UK reports excellent Q3 results

Ageas UK has reported its financial results for the third quarter of 2011, including pre-tax profits of £78.3m.

This is more than quadruple the £16.6m the firm made in the corresponding period last year, and follows a similarly improved biannual result.

Total income rose by 88.6% to £1,358.2m, with gross written premiums up 88.5% to £1,326.9m.

During the quarter Ageas enjoyed strong growth in Non-Life Personal and Commercial lines as well as successfully integrating Castle Cover into Retail activities.

Chief Executive Barry Smith expressed his pleasure that the considerable momentum in profitable growth achieved in the first six months of 2011 continued into the latter half of the year.

Smith went on to say that 2011 was always going to be a critical year for the firm as it made a step change in expansion, adding that the results were a credit to the Ageas team.

 

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