QBE Europe took £109m Ogden hit in 2017
QBE Europe’s 2017 combined operating ratio deteriorated to 99.6% as a result of a £109m impact from the Ogden discount rate.
As a result, the group’s underwriting result fell to £12m. Excluding the Ogden impact the underwriting result would have stood at £121m, 36% lower than the previous year.
The group’s European
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