Ascot swings back to £93.3m profit for 2012
Ascot Underwriting, the AIG-owned Lloyd’s managing agency, has swung back to a healthy £93.3m profit for 2012 after slipping into the red for 2011. Chief executive, Andrew Brooks, declared himself delighted with the result, which came on the back of a vastly improved combined ratio, down to 81% from 2011’s 104.7%, despite substantial losses from superstorm Sandy and the Costa Concordia wreck
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