Ageas H1 2021 Results

Today we have reported our results for the first half of 2021 to the market so here’s a snapshot of how they’re looking.

Continued strong combined ratio of 96% and net result - supported by the lower frequency of private car motor claims as a result of the pandemic lockdown restrictions at the start of the year. However, with the gradual lifting of lockdown in Q2, the frequency has increased.

Total income was slightly down reflecting the competitive pricing environment and five-year low for premiums in the private motor market. This was balanced by growth in household and commercial GWP as a result of new deals.

“These strong results support our strategy to invest in our stand-out capabilities. Our focus on doubling down on our heartland of personal lines is starting to gather momentum with important new broker distribution agreements, alongside the continuous improvement of our technical engine room, fuelling our competitive position.

“I am particularly pleased with the response of our people and our broker partners over the last few months. This high-quality collaboration and relentless energy provides real confidence that we are plotting an exciting path for the future.” 

Ant Middle, CEO, Ageas UK