esure Group plc 2017 Q1 Trading Update (1070E)
May 04 2017 - 2:00AM
UK Regulatory
TIDMESUR
RNS Number : 1070E
esure Group plc
04 May 2017
4 May 2017
esure Group plc - Trading update for the three months to 31
March 2017
A strong start to 2017
Trading update
2017 2016 Q1 2017
Q1 Q1 vs Q1
2016
Gross written premiums (GBPm) 187.4 151.0 +24.1%
Motor 166.3 128.9 +29.0%
Home 21.1 22.1 (4.5)%
In-force policies (millions) 2.222 2.036 +9.1%
Motor 1.679 1.459 +15.1%
Home 0.543 0.577 (5.9)%
Additional services revenues
(GBPm) 28.2 25.4 +11.0%
Stuart Vann, Chief Executive Officer of esure Group plc,
commented:
"We have made a strong start to 2017, with trading in Motor
particularly pleasing. Our strategic initiatives are performing
well and provide us with great opportunities and confidence to
deliver our growth ambition of 3 million policies by 2020.
"In Motor, along with the market, we have started to increase
pricing in response to the change in the Ogden discount rate and
continued our growth momentum. In Home, the market remains
challenging and we continue to temper our growth as we do not
believe current market conditions provide opportunities for
profitable growth. However, the Home portfolio continues to deliver
a positive contribution to the Group.
"Overall, we have started 2017 better than we expected and we
are firmly on track to deliver results at the more positive end of
the 2017 guidance we issued at the time of our 2016 full year
results in March."
For further information:
Chris Wensley Chris Barrie/Grant
Head of Investor Relations Ringshaw
& Corporate Strategy Citigate Dewe Rogerson
t: 01737 641324 t: 0207 638 9571
e: investor.relations@esuregroup.com e: esure@citigatedr.co.uk
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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