ERS is the UK’s largest specialist motor only insurer underwritten by Lloyd’s and rated A+. For over 70 years, we have worked directly with brokers to provide bespoke cover for their customers’ specialist requirements.
For these customers’ their vehicle is often at the centre of their livelihood or passion, giving rise to different or specific needs that cannot be met with one-size-fits-all insurance. At ERS we recognise and embrace this difference; it is why we employ teams of underwriters who are experts in their field to understand each risk individually to provide the ideal cover and it is also why brokers have told us that they trust us more than any other insurer with a specialist motor risk.
ERS announce record profit and 96.1% COR
ERS is pleased to announce their highest profit to date since they were bought by Aquiline in 2013.
The 2018 results, which report a profit of £11.1m (£12.2m loss in 2017), a Combined Operating Ratio (COR%) of 96.1% (104.9% in 2017), reflect ERS’s strategy to focus on the most specialist motor risks and to underwrite for profit, not volume.
Whilst ERS’s results report a Gross Written Premium reduction to £330m (£370m in 2017), they show a double digit growth in specialist lines, which is core to their strategy and reflects that brokers still think of ERS first for their most complex and specialist risks.
To view the full results from ERS, including commentary from CEO Ian Parker, click the link below….
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