Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Esure Group PLC    ESUR   GB00B8KJH563

Delayed Quote. Delayed  - 11/22 05:35:16 pm
246.2 GBp   -1.52%
11/15 ESURE : Form 8.3 - ZPG Plc
11/15 ESURE : Form 8.5 (EPT/NON-RI) Gocompare.com Group plc
11/15 ESURE : Form 8.5 (EPT/RI) - Gocompare.com Group Plc
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Motor insurance drives rise in premiums at UK's esure

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/08/2017 | 09:22am CET

British insurer esure Group Plc (>> Esure Group PLC) said on Wednesday it expected 20-25 percent growth in full-year premiums as it reported a record quarter for premiums, helped by rising demand and legal changes that raised the cost of motor insurance.

British insurer esure Group Plc (>> Esure Group PLC) said on Wednesday it expected 20-25 percent growth in full-year premiums as it reported a record quarter for premiums, helped by rising demand and legal changes that raised the cost of motor insurance.

The company, which provides insurance products to drivers, home owners, pet owners and holiday makers across Britain, said gross written premiums rose 25.4 percent to 625.8 million pounds in the nine months ended Sept. 30. This was higher than the 600.3 million pounds estimated by RBC.

The insurer also said it expected its full-year combined operating ratio to be at the lower end of its 96-98 percent range, which translates into a higher underwriting profit. A number below 100 percent indicates a profit.

Motor gross written premiums jumped 30.4 percent to 561.5 million pounds in the nine months period.

The average price of motor insurance in Britain jumped 10 percent in the third quarter, taking premiums to their highest level since 2012, the Association of British Insurers (ABI) said on Friday.

A government decision this year to cut the personal injury discount rate contributed to a rise in the size of payouts, denting insurers' profits and lifting premiums to record highs.

But Britain announced plans last month to change the rate for calculating personal injury payments, a move expected to reduce the size of the payments.

The insurer esure competes with firms such as Aviva (>> Aviva), RSA (>> RSA Insurance Group), Direct Line (>> Direct Line Insurance Group PLC), Hastings (>> Hastings Group Hldg PLC) and Admiral (>> Admiral Group) in the highly competitive car insurance market.

Direct Line and Hastings both reported higher nine-months gross written premiums.

Live customer policies grew by 10.4 percent to 2.324 million, slightly ahead of RBC's expectations of 2.302 million.

The company reiterated its target of 3 million live customer policies by 2020.

"We expect the statement to be received well by the market due to the higher growth guidance and reiteration of the 2020 ambition which we believe has been a key cause of recent weakness in the stock," RBC analysts, which rate esure as "underperform" said.

In its statement, esure said it remained "disciplined" in home insurance, where gross written premiums fell 6 percent, as current market conditions did not provide opportunities for profitable growth.

Trends in home insurance have remained weak, hurt by soft premiums because of intense competition, with heightened claims inflation a key challenge.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Louise Heavens and Edmund Blair)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ESURE GROUP PLC
11/17 ESURE : Bomb squad in city centre drama
11/15 ESURE : Form 8.3 - ZPG Plc
11/15 ESURE : Form 8.5 (EPT/NON-RI) Gocompare.com Group plc
11/15 ESURE : Form 8.5 (EPT/RI) - Gocompare.com Group Plc
11/15 ESURE : Form 8.5 (EPT/RI) GoCompare.com Group plc
11/15 ESURE : Form 8.3 - Gocompare.com Group plc
11/14 GoCompare spurns 460 million-pound offer by Zoopla-owner ZPG
11/09 ESURE : Insurance tycoon nets bumper payday as Esure shares head up
11/08 Motor insurance drives rise in premiums at UK's esure
11/08 ESURE : 2017 Q3 Trading Update
More news
Financials ( GBP)
Sales 2017 782 M
EBIT 2017 99,7 M
Net income 2017 74,0 M
Debt 2017 -
Yield 2017 4,83%
P/E ratio 2017 13,95
P/E ratio 2018 12,46
Capi. / Sales 2017 1,34x
Capi. / Sales 2018 1,17x
Capitalization 1 045 M
Chart ESURE GROUP PLC
Duration : Period :
Esure Group PLC Technical Analysis Chart | ESUR | GB00B8KJH563 | 4-Traders
Technical analysis trends ESURE GROUP PLC
Short TermMid-TermLong Term
TrendsBearishBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 2,77  GBP
Spread / Average Target 11%
EPS Revisions
Managers
NameTitle
Stuart Robert Vann Chief Executive Officer & Executive Director
Peter John Wood Chairman
David Pitt Chief Operating Officer
Darren Ogden Chief Financial Officer & Executive Director
Shirley J. Garrood Deputy Chairman
Sector and Competitors
1st jan.Capitalization (M$)
ESURE GROUP PLC23.62%1 386
BERKSHIRE HATHAWAY11.71%452 066
THE ALLSTATE CORPORATION35.15%35 775
THE TRAVELERS COMPANIES6.13%35 753
TOKIO MARINE HOLDINGS INC-0.42%31 887
SAMPO OYJ6.76%29 798