ERS posts surge in profit for 2020
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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