Helvetia COR improves but IFRS profit down 21% due to “accounting effects”
Swiss-based Helvetia Group saw its IFRS after tax result fall to SFr309m (£220m) (2014: SFr393m) but there was an improvement in its combined operating ratio to 92.1% (2014: 93.5%) and other profit metrics.
The group's report said the negative IFRS result was "temporarily distorted by the accounting effects of acquisitions", which have recently included Nationale Suisse and Basler Austria.
Underlying
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