Ageas UK reports half-year results
Ageas Protect has claimed an 8.2% share of the intermediary market for the first half of this year, up by almost 1% on the previous year.
The life office’s share of the adviser market was 7.3% during the first half of 2011.
Ageas UK has today published its results for the first six months of 2012, which show a year-on-year increase of 65% in gross written premiums (GWP) for its protection business.
Its GWP has risen from £19.2m in the first half of 2011 to £31.6m in the first half of this year, while new annual premiums have climbed from £14.1m to £17.1m over the same period.
Ageas UK says the growth is largely down to the successful roll out of its protection offering to an increasing number of IFAs, intermediaries and new affinity partnerships.
The protection business now has over 225,000 customers, an increase of 47.4% over the same period last year.
Ageas UK reported an increase in profit before tax and minority interests of 81%, from £35.4m in the first half of 2011 to £64.1m in the first half of 2012.
Barry Smith, chief executive of Ageas UK, said he is particularly pleased with the company’s strong profit performance.
He added: “Our ethos is to deliver results by working in partnership with our brokers, advisers and clients and to provide them with customer service well above market norms. This focus will continue.”