ERS COR falls below 100%
Insurer achieves 99.8% COR in 2015 but profits slip to £6m.
Motor specialist ERS, which deals only with brokers, has revealed that its combined operating ratio (COR) has fallen below 100% for the first time since 2009.
In its full year results for 2015 the organisation saw profits of £6m, down from the £8.3m reported in 2014.
The company noted that 2015 was the second year in a row it had reported profits.
Gross written premiums hit £394m, an increase of 2% from the previous 12 months.
ERS commented that the figures represent the first year of growth
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