Groupama takeover to add extra boost to 'record' Ageas profits

Barry Smith

Ageas chief executive Barry Smith is confident that the addition of Groupama insurance activities will add further clout to performance, following nine months in which the firm's profit before tax and minority interests rose by 36.4%.

The figure, which now stands at £106.7m, increased significantly on the same period last year (9M 2011: £78.3m), while the group's combined operating ratio shrunk marginally by 1% to 98.6% (9M 2011

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