ERS reports small profit for 2016
Motor insurer posts COR of 102.3% following adjustments made to meet the expected discount rate cut.
ERS has posted a trading profit of £1.7m and a combined operating ratio (COR) of 102.3% for the year 2016.
According to the insurer it has made an adjustment to account for the impact of the possible cut to the discount rate, adding that prior to this its profit for 2016 was £11.7m (2015: £6.0m) and its COR was 99.7% (2015: 99.8%).
The insurer further noted that it had achieved a 3% year on year growth in gross written premium, adding that the results "reflect the benefits of ERS's continued
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