Profit shoots up for ERS
Half year results highlight how motor provider has been affected by coronavirus as profit increases and COR improves.
ERS experienced a decline in GWP of 8% year-on-year to £168m (H1 2019: £183m), almost entirely driven by commercial customers temporarily pausing coverage for their vehicles during the coronavirus pandemic.
However, the insurer’s half year results also showed its combined operating ratio improved to 84.9% (H1 2019: 102.8%), leading to a profit for the first half of £28.2m (H1 2019: £3.1m).
The business also stated that its specialist segments including Agriculture, Taxi, Transportation and
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