Insurance Post

Ageas UK sees profit again hammered by Ogden

Bart De Smet, Ageas CEO

Ageas UK saw its pre-tax profit fall by 56% as it said it still had €5m (£3.8m) to pay in relation to the Ogden rate change.

The insurer posted €28.7m pre-tax profit in the first nine months of the year, down from €65.7m in the same period last year.

It’s combined operating ratio declined to 103.7%, from 99.7%. Excluding

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