ERS posts surge in profit for 2020
COR also improved, while GWP was down on 2019 after a number of products lines were "materially affected" by Covid-19.
ERS has reported an increase in profit and an improved combined operating ratio (COR) for the full year 2020.
The specialist motor insurer announced profits of £32.8m for the year, a significant rise from the £13.9m posted in 2019. The provider noted that the result is a record profit since it was bought by Aquiline in 2013.
In addition, ERS’s COR improved to 91.9%, compared to 99.7% in the preceding year. According to the insurer, the results were driven by a year of underwriting discipline
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