Source - SMW
esure Group has raised its full year guidance after a record quarter.

In a trading update for the nine months to the end of September the group said gross written premiums rose by 25.4% to £625.8m and the number of in-force policies increased by 10.4% to 2.324 million.

Additional services revenues rose by 16.1% to £93.6m.

Chief executive Stuart Vann said: 'The business continues to grow strongly and we delivered a record quarter of premiums at £233m. 

'Year-to-date, premiums are 25% higher at £626m 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.'


 





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