First full year profit in five years at ERS
Provider’s COR improves but remains above 100%.
ERS has reported a full calendar year profit for the first time in five years, a £28m uplift year on year.
The specialist motor insurer highlighted that it had achieved a yearly profit in 2014 of £8.3m on decreased gross written premium (GWP) of £388m, down from £406m the year before.
In May 2013 the insurer switched to a broker-only model and followed this in April 2014 with a rebrand from Equity Red Star to ERS.
The firm stated that the decline in GWP was due to a continued refinement of its
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