Profits and policies up at esure in 2016

cash-in-hand

Combined operating ratio lifts slightly to 98.8%.

Insurer esure has reported underlying profit after tax of £80.5m for the year ended 31 December 2016, up 18% on the £68.2m delivered the year before.

The full profit after tax came in at £269.2m however this was impacted by a variety of factors including a gain of £213.6m on the demerger of GoCompare.

Gross written premium at the provider rose 19% to £655.0m (2015: £550.3m) as in-force policies increased by 8.6% to 2.17m.

The combined operating ratio (COR) deteriorated slightly to 98.8% from 97

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ABI campaigning for IPT cut

There has never been a greater need for a cut in Insurance Premium Tax according to the Association of British Insurers as it campaigns for an immediate drop in the rate.

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