Ogden pushes ERS to “disappointing” trading loss of £13m
The COR was reported as 107.6% and GWP also fell as CEO says the results were driven by changes outside of the insurer’s control.
ERS has reported a trading loss of £13m for the first six months of 2017, compared to a profit of £7.2m for the same period last year.
The combined ratio was 107.6% and GWP also dropped from £221.2m last year to £212.6m.
Last year for the full year the insurer reported a small profit of £1.7m and a COR of 102.3%.
Ogden
CEO Ian Parker said the half year performance was in line with expectations but added: “While the Ogden discount ruling has adversely affected our H1 financial performance, we
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