Investment returns push Covéa into profit after underwriting loss
Covéa delivered an underwriting loss of £22.3m in 2019 compared to a profit of £1.8m the year before, with the insurer hit by high levels of motor claims inflation and flat market premiums along with a lower level of reserve releases.
As recently as 2017 it made £12.4m in underwriting profit.
Profit after tax for the year to 31 December 2019 more than doubled to £3.7m from £1.5m in 2018. This was driven by an improvement in
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