ERS returns to profit in H1 2018
Insurer reveals an improved COR at 96.6%, but a fall in GWP.
ERS has posted a profit of £5.6m for the first half of 2018, compared to a £13m loss in the first six months of last year.
Its combined operating ratio improved to 96.6% (H1 2017: 107.6%) and the insurer stated that this had been driven by investment in the business.
The specialist motor provider also reported gross written premium (GWP) of £168m, which was down from £212.6m compared to the first half of 2017.
According to ERS this reflected the insurer’s focus on growing the bottom line.
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