esure Group plc 2017 Q3 Trading Update (8492V)
November 08 2017 - 2:00AM
UK Regulatory
TIDMESUR
RNS Number : 8492V
esure Group plc
08 November 2017
8 November 2017
esure Group plc - Trading update for the nine months ended 30
September 2017
A record quarter; raising full year guidance
Trading update
2017 2016 Movement
Q3 YTD Q3 YTD
Gross written premiums (GBPm) 625.8 499.0 25.4%
Motor 561.5 430.6 30.4%
Home 64.3 68.4 (6.0)%
In-force policies (millions) 2.324 2.105 10.4%
Motor 1.830 1.530 19.6%
Home 0.494 0.575 (14.1)%
Additional services revenues
(GBPm) 93.6 80.6 16.1%
Stuart Vann, Chief Executive Officer of esure Group plc,
commented:
"The business continues to grow strongly and we delivered a
record quarter of premiums at GBP233m. Year-to-date, premiums are
25% higher at GBP626m and policies 10% higher year-on-year at 2.3
million, underpinned by a strong performance in Motor where we are
continuing to see the benefits of our proven underwriting expertise
and footprint expansion programme which enable us to offer more and
more customers access to our excellent products and services.
Meanwhile, we remain disciplined in Home, as current market
conditions do not provide opportunities for profitable growth.
"Our strong performance to date gives us confidence that we will
exceed previous guidance. We now expect growth in premiums of
20-25% for the full year and our combined operating ratio to be at
the lower end of our 96-98% range, subject to normal weather.
"We approach 2018 with confidence and remain well placed to
deliver our 3 million in-force policy ambition by 2020."
For further information:
Chris Wensley Chris Barrie
Head of Investor Relations Citigate Dewe Rogerson
& Corporate Strategy t: 0207 638 9571
t: 01737 641324 e: esure@citigatedr.co.uk
e: investor.relations@esuregroup.com
About esure Group plc
esure Group plc ("the Group") is an efficient, customer-focused
personal lines insurer, founded in 2000 by Chairman, Sir Peter
Wood, Britain's foremost general insurance entrepreneur. The Group
is one of the UK's leading providers of Motor and Home insurance
products through the esure and Sheilas' Wheels brands.
Important information
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation which came into
effect on 3 July 2016.
The esure Group plc LEI number is 213800KOI3F5LM54PT80.
Forward looking statements
Certain statements made in this announcement are forward-looking
statements. Such statements are based on current expectations and
assumptions and are subject to a number of known and unknown risks
and uncertainties that may cause actual results, performance or
achievements of the Group or industry results to differ materially
from any future events, results, performance or achievements
expressed or implied by such forward-looking statements. Persons
receiving this announcement should not place undue reliance on any
forward-looking statements. Unless otherwise required by applicable
law, regulation or accounting standard, the Group disclaims any
obligation or undertaking to update or revise any forward-looking
statements, whether as a result of new information, future
developments or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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