Ageas Protect has posted a profit of £1.6m this year and a significant increase in premiums, Ageas UK's third quarter results for 2014 have revealed.
Total GWP inflow increased by 20.5% to £80.9m (9M 2013: £67.2m.)
Ageas said this was driven by the company's approach to underwriting and technology, high levels of service and product innovation.
New Annual Premiums increased by 16% to £26.6m (9M 2013: £22.9 m).
Ageas Protect's post tax result was a profit of £1.6m compared to a loss of GBP (1.5) m for the same period last year as the business continues to grow and build scale.
On 6 August 2014, parent company Ageas announced the sale of Ageas Protect to AIG.
Ageas said the "closing of the deal is well on track and remains subject to regulatory approval."
