Ageas reports half year results

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Ageas UK has announced its half-year results.

The executive summary reported profit before tax and minority interests up 81% to £64.1m.

Protection distribution has seen 47.4% growth in customer numbers; and protection gross written premium (GWP) - the total premium written and assumed before deductions for reinsurance and ceding commissions - has risen by 64.8%.

New annual premiums has grown by 21.2% and total income is up 5.6% compared to 2011.

Barry Smith, chief executive of Ageas UK, said: "I'm particularly pleased with our strong profit and combined ratio performance in the first six months of 2012.

"This builds on the significant scale change of the Ageas business over the last year."

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