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Daily Insurance Industry News
Saturday 20th of January 2018
November 7, 2012

Ageas UK achieves record profits

by Richard Kilner

Story link: Ageas UK achieves record profits

Ageas UK has reported its financial results for the first nine months of 2012, during which it made pre-tax profits of £106.7m.

This is 36.4% more than the £78.3m of the corresponding period last year, and is a new record for the firm.

It also follows biannual pre-tax profits of £64.1m, an 81% rise from H1 2011 to H1 2012.

Total income rose by 0.9% year-on-year to £1,535.7m and non-life gross written premiums were stable at £1,328.1m.

Ageas has also reported that it expects the Groupama Insurance Company Limited acquisition to be completed during the course of the fourth quarter of 2012.

Chief Executive Barry Smith said that achieving a record year-to-date profit in challenging economic conditions was particularly pleasing.

Smith went on to say that once the Groupama UK acquisition is completed brokers and clients would benefit from an even greater range of products.

 

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