ESURE ORD 1/12P (LSE:ESUR)

 

esure after-tax profits up 16.9%

Insurance group esure's gross written premiums rose by 6.7% to £265.4m in the six months to the end of June and after-tax profits jumped by 16.9% to £44.3m.

In-force policies increased by 5.5% to 1.855 million and trading profits rose by 7.2% to £65.2m while pre-tax profits were up 15.2% at £56.9m.

Chairman Peter Wood said: "Our first interim results as a listed company show continued volume and profit growth with improvements in our combined operating ratio and underwriting performance. Our strategy has enabled us to adapt well to our changing marketplace and has stood us in good stead.

"We have been listed for three months and are pleased to declare an interim dividend of 2.5 pence per share, representing a payout ratio of 70%."

At 8:13am: (LON:ESUR) share price was -13p at 298.5p