Ageas UK has reported a loss of £4.6m for the first quarter of 2014 compared to profit of £19.4m for the same period last year.
However protection Gross Written Premiums (GWP) for Ageas Protect were up 20.8% to GBP 25.7m, compared with £21.2m to the end of March 2013.
The provider's combined operating ratio (COR) deteriorated to 106.1% (Q1 2013: 98.6%) as gross written premium increased to £526.7m (Q1 2013: £511.3m).
The company said that the loss reflected the impact of storms and floods that hit the UK earlier this year.
Ageas Insurance's net result was down with a £4m loss (Q1 2013: £15.5m) which included a £25.9m impact from the storms and floods. GWP grew by 2.2% over the same period in 2013 to £350.3m.
Within Ageas UK's other insurance activities, the net profit increased to £3.7m.
The retail companies, including RIAS, Castle Cover and Kwik Fit delivered a net profit of £2.1m for the period, a decrease from £6.3m in the first quarter of the year before.
Announcing the results, Andy Watson, chief executive of Ageas UK: "It's been a challenging first quarter for the industry as we continue to manage the claims resulting from the wettest winter since records began.
"The severe storms and floods have impacted negatively on profit, but our focus remains on helping affected customers in their time of need with our award-winning service."
