Ecclesiastical reveals £16m underwriting loss
Ecclesiastical has blamed a pre-tax loss of £7.7m and an underwriting loss of £16.1m on the eurozone and Australasian catastrophes, but plans to increase premiums in Australia.
The insurer posted this pre-tax loss in its full year results. It made a pre-tax profit of £50.4m profit in 2010.
In the 2011 results, it made an underwriting loss of £16.1m compared to a £5.9m loss
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