Esure posts trading and post-tax losses for 2023
Esure swapped a trading profit of £49.8m in 2022 for a loss of £16.7m last year, the insurer has confirmed.
The loss after tax also ballooned year-on-year from £25m to £60.1m as the combined operating ratio deteriorated to 102.5% from 92.5% previously.
According to the provider, it focused on pricing and underwriting discipline during the year rather than growth in volume.
Motor volumes fell 11% to 1.5m in-force policies while the in-force home policy count dropped 7% to 570,000.
However, the insurer flagged that it achieved underlying price increases of 51% in motor and 34% in home.
GWPThe net effect
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