Our recent financial results

We have today reported our financial results to the market, so here is a flavour of how the first nine months of 2019 is looking for Ageas.

As the year progresses we continue to deliver a resilient performance, despite a higher level of claims inflation that is consistent with that reported across the market.

Our results in summary:

• Profit up in the first nine months to £58.2 million (9M 2018 £54.2 million)
• Resilient combined ratio at 97.0% (9M 2018: 97.5%)
• Trading momentum in the broker market continues with new deals and a healthy pipeline of bespoke schemes

New Deals

We’ve seen further good progress in the broker channel. In addition to new deals announced in the first half of the year, we have a positive pipeline and recently announced a new four year partnership with URIS Group, broadening our specialist personal and commercial lines expertise to a wide range of niche trade sectors.

Investing in intermediated

We have recently announced three new roles that will replace Chris Dobson when he retires from the business at the end of the year. Darren Whittaker and Mark Auchterlonie have this month started in their new positions as Directors of Distribution and are already looking at how we further develop and grow our intermediated business. We will update you on our plans and progress in the coming months.

Andy Watson

CEO, Ageas UK