Esure adds policies as price war rumbles on

Marion Dakers
INSURANCE group Esure yesterday said it has gained customers amid a car insurance price war and that is on track to hit full-year forecasts.

The firm behind the Sheilas’ Wheels and Esure brands said gross written premiums were up 4.8 per cent in the year to date to £427m, though the pace slowed to 1.7 per cent in the third quarter. Esure has 1.906m policies in force, up from 1.759m a year ago.
Boss Stuart Vann said “disciplined underwriting and maintaining our high customer retention rates” had kept the firm on track to hit full-year expectations. Sales forecasts were pared back in August when the firm said premium growth would be lower than the first half of the year.

Motor insurers are fighting for business following new rules on gender-neutral pricing. Shares closed up 5.5 per cent at 224p, having floated in March at 290p.