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Daily Insurance Industry News
Thursday 15th of November 2018
February 20, 2012

Ageas UK enjoys strong 2011 results

by Richard Kilner

Story link: Ageas UK enjoys strong 2011 results

Ageas UK has reported its financial result for the year ended 31 December 2011, including pre-tax profits of £105m.

This compares with a pre-tax loss of £24.8m the firm incurred during the previous year, a loss the firm attributed to one-off events and bad weather.

Non-life gross written premiums surged by 70.1% to £1,721.3m, with protection gross written premiums up 89.4% £44.6m and new annual premiums up 37% to £30.9m.

Ageas UK’s total income increased by a similarly large margin, rising by 67.8% to £1,979.5m.

Chief Executive Barry Smith described 2011 as a great year for the firm, which saw it achieve significant growth and profits.

Smith attributed the firm’s success to a real team effort, adding that Ageas UK was well-positioned for the future and was now focused on delivering a good result in 2012.

 

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