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Interim Results

esure sees growth in premiums, policies and profits

03 August 2017 07:23

esure Group has reported 'an excellent first half with growth in premiums, policies and profits'.

Gross written premiums rose by 22.8% to £393.3m while the number of in-force policies increased by 8.8% to 2.258 million.

Profit before tax from continuing operations was up 44.6% at £45.1m and the combined operating ratio improved 2.6ppts to 96.6% (1H 2016: 99.2%).

The group has declared an interim dividend of 4.1p per share (1H 2016: 3.0p per share) which, it said, reflected a payout ratio of 70% of earnings per share, inclusive of a 20% special dividend.

Chairman Sir Peter Wood said: "esure has performed very well in the first half of the year as the Management team continues to drive the Group's profitable growth strategy.

"Our solid capital position has led the Board to declare an interim dividend of 4.1 pence per share, which includes a special dividend, at the same time as allowing esure to retain sufficient capital and flexibility to continue to pursue our profitable growth ambitions."

Story provided by StockMarketWire.com

Related Company: ESUR

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