ERS turns profit for first time in five years
Insurer's chief exec says improvement was hard fought.
ERS has reported a profit of £1.2m for the first six months of 2014.
This is a £25m improvement on the same period of last year, and is also the first time the provider has announced a profit since 2009.
Gross written premium dipped slightly from £206.6m in the first half of 2013 to £194.9m.
Meanwhile combined ratio improved to 101.5%, from 112.1% last year.
According to ERS, its return to profit is “sustainable as it did not depend on prior year reserve releases”.
The insurer switched to a
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