ERS reports post-Ogden loss for 2017
Provider’s combined operating ratio improves slightly to 104.9%.
ERS has revealed a loss of £12.2m for 2017, compared to a loss of £21.7m in 2016.
In addition it posted a fall in gross written premium to £376.1m in 2017 from £406.1m in the preceding 12 month period.
ERS stated that this was expected after it implemented price increases following the change in the Ogden rate and moved out of underperforming classes of business.
The provider’s combined operating ratio (COR) improved slightly to 104.9% (2016: 108.4%).
The motor insurer stated that its
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