Covéa Insurance hails ‘fantastic progress’ as COR and GWP improve
Covéa's UK insurance arm reported an improved gross written premium of £473m (2014: £445m) and combined operating ratio of 96.9% (2014: 97.8%) in its 2015 results.
Technical account profit also rose to £22m (2014: £19.5m), but profit before tax fell to £15.7m (2014: £21.3m).
Covéa said the £5.6m fall in profit before tax year-on-year was due to a reduced level
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