Esure profits and premium shoot up in 2017

Car industry

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

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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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