ERS, the specialist motor insurer and part of the IQUW Group, has announced a Combined Operating Ratio of 98% (91.9% in 2020) following a year of continued underwriting discipline.

The insurer reports that the Covid pandemic continued to affect premiums, which reached £319m (£329m in 2020), by driving a reduction in demand for some passenger carrying vehicles and impacting the availability of semiconductor chips, which reduced new vehicles sales. However, with a broad range of specialis t products, the insurer continued to see strong growth in its Commercial products following the surge in online purchases and ERS Agriculture saw premiums increase following continued service excellence and disciplined underwriting.

ERS Active Underwriter, Martin Hall commented “I am pleased with ERS’ 2021 results as we continue our disciplined underwriting strategy and refrain from chasing under-priced business that will ultimately require significant rate increases. Our consistent approach will ensure that our brokers will benefit from our long-term disciplined approach and strategy.

“Additionally, I am delighted that we have continued to create efficiencies across the business by digitalising our distribution. ERS eTrade continues to be a destination for brokers to trade our Commercial products and we successfully launched Plug in to ERS, with brokers now directly linked to our rating engines via APIs to quote, bind, renew and adjust policies in real-time, providing our brokers with the most efficient way to trade with ERS.

“We have built a solid track record of results and I have every confidence we will continue to grow through disciplined underwriting and expert judgement through 2022”.