Ageas UK sees profits fall on higher claims

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp Ageas UK sees profits fall on higher claims whatsapp Wednesday 10 November 2010 8:06 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutioncenter_img AGEAS UK reported a 50 per cent fall in pre-tax profit for the first nine months of the year following increased claims from the severe wintry weather at the start of the year and poor private car sales. The insurer, formerly known as Fortis, reported profits of £16.6m for the first nine months of the year, 50 per cent lower than the previous year’s profits of £33.2m. Ageas also blamed lower investment yields compared to last year for the lower set of results. Meanwhile start up deals with Tesco Bank, which cost it £7.7m, and Kwik Fit Insurance services, which cost Aegeas £4.3m, also impacted on profits.Ageas owns 50.1 per cent of Tesco Underwriting, the new insurance business with Tesco Bank, which began writing business in October.The company’s life business, Fortis Life, which only launched two years ago made a pre-tax loss of £3.3m for the year to date compared to a loss of £6.1m for the same period last year. Fortis Life is due to be rebranded in 2011 to Ageas.Barry Smith, chief executive of Ageas UK, said: “Notwithstanding a tough 2010, our performance has improved quarter by quarter which is really encouraging.” KCS-content Share Show Comments ▼ Tags: NULLlast_img read more