Ogden change dents Co-op's full year results

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The group said that an underlying operating profit of £11m was hit by £15m in reserving costs in light of the Ogden discount rate change and one-off costs associated with its transformation programme. Mark Summerfield, CEO of Co-op Insurance, said: “These results demonstrate a stronger than planned financial performance, with a solid growth in new business. “We have continued to improve our pricing and distribution capabilities. The rebrand across the Co-op Group has had a positive impact o