Covéa Insurance has reported a significant surge in profitability for the 2025 financial year, with profit after tax reaching £72.4m compared to £32.9m the previous year. The results demonstrate a sharp rise in operational efficiency despite a slight dip in gross written premiums, which moved from £641.5m to £616.8m over the twelve-month period.

The insurer’s combined operating ratio—a key metric of underwriting profitability where a lower percentage indicates better performance—improved markedly to 91.6% from 97.8% in 2024. This shift highlights a period of disciplined underwriting and robust cost management. While headline premiums fell, core written premium remained stable at £598.5m, indicating that the firm successfully maintained its market position during a period of softer pricing across the sector.

Philippe Domart, Chief Executive, noted that the performance validates the current business strategy and proves the resilience of the organisation in a demanding market. He credited the collective achievements of the teams for delivering high levels of service to brokers and clients alike.

Chairman Chris Moat added that the results reflect a business operating with greater financial discipline and a strengthened balance sheet. He emphasised that the firm’s robust capital position and refined operating model provide a sustainable foundation for long-term growth and consistent broker support.