ERS says Ogden drove up COR in 2019
Profit and GWP improved at the motor provider.
ERS has reported a profit of £13.9m in 2019, up from £11.1m in the preceding year.
The specialist motor provider also posted a rise in GWP to £360m (2018: £330m). ERS said it saw a 13% year-on-year increase in vehicles on cover.
However, the business also revealed that its combined operating ratio had deteriorated to 99.7% (2018: 96.1%), which it said reflected the change in the Ogden discount rate to -0.25%.
Technology
ERS further noted that it continues to make investments in technology
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
You may also like
More on Insurer
Biba 2025 Countdown: Granite’s Alistair Rose
Alistair Rose, managing director of Granite Underwriting, talks up the merchandise on its stand, recommends Manchester Art Gallery as a calm place to reflect on the Biba buzz, and highlights an emergency snack stash as essential to get through the two days.
Markel becomes Biba partner
The British Insurance Brokers’ Association has welcomed Markel as an official partner.
Schemes and HNW help drive Q1 premium growth at Hiscox
Hiscox has hailed “very strong” schemes growth and double-digit expansion in art and private client business as the UK retail arm posted a 4.4% premium rise in the first quarter of 2025.
No new FCA skilled persons investigations into insurance in final quarter
The Financial Conduct Authority did not commission any skilled person reports in the insurance sector between January and March, leaving the running total for the 2024/25 financial year at 10.
Biba 2025 Countdown: Coalition’s Tom Draper
Coalition UK managing director Tom Draper looks forward to filling an extra bag with Biba swag and giveaways; explains why Oasis’ Stand By Me sums up the event perfectly; and explains how it will be supporting brokers with relevant, real-world content on its stand.
Most read
- Gallagher tipped to win the race for PIB
- FCA ends Scottish broker’s trading permissions after dual pricing attestation and response failures
- UK commercial rates falling faster – Marsh