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#Esure profits and premium shoot up in 2017

By 12th March 2018 January 21st, 2019 No Comments
Surge in motor policies at insurer.
Esure has posted a 25% rise in gross written premium (GWP) to £820.2m for 2017.
The provider’s inforce policies went up 9% to 2.4m as pre-tax profit jumped by a third to £98.6m.
The combined operating ratio also improved from 98.8% in 2016 to 96.7% last year.
The breakdown of the figures showed that inforce motor policies were up 18% to 1.9m while home policies actually reduced to 478,000.
Accordingly, GWP in motor leapt by 30% to £734.3m.
CEO
The results were for the first full year since Esure demerged from aggregator Gocompare in November 2016.

The company also addressed the recent departure of chief executive Stuart Vann at the start of 2018.
Esure’s chairman Peter Wood repeated the message that the firm was looking for new leadership “steeped in digital and data experience to take the business to the next level”.
It is targeting three million inforce policies by 2020.
Digital
Darren Ogden, chief financial officer of Esure, is acting as interim CFO while the search for Vann’s successor continues.

He commented: “Our digital proposition continues to evolve as we deploy innovative technologies across the business to deliver for our customers.
“I am continually impressed by my colleagues’ hard work, energy and dedication in making sure we provide a great service to all our customers.”

Article is care of www.insuranceage.co.uk 

​This article can be found here.

Tim Kelly

Tim Kelly

Tim is a highly qualified Independent Engineer with over 20 years experience as an Engineering Assessor of damaged vehicles.

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