Ecclesiastical falls into the red after investment portfolio flops
Ecclesiastical has unveiled a pre-tax loss of £21.5m for the first six months of 2008 (2007: £28.7m profit) on gross written premiums of £210.8m, up £9m (4.5%) on the same period last year.
The group's overall combined ratio dipped to 104.5% (101.2% in 2007) while it recorded an investment loss of £35.3m, compared to a profit of £48.1m in 2007.
Ecclesiastical added South Essex Insurance
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