Liability losses hit Ecclesiastical’s combined ratio
Ecclesiastical’s group combined operating ratio has deteriorated for a second year by three percentage points to 108.5% in 2012 (2011:105.5%, 2010:102%). This was against an underwriting loss of £24.6m (2011: £18.7m), which the insurer said it was due to challenges arising from non-core business lines.
The insurer blamed its UK underwriting losses of £12.3m on its liability book, particularly attirional losses in its care sector portfolio, and said it will take underwriting and pricing action to
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