Esure Esure increases its growth forecasts
Following a 19% growth in written premiums and an 8.6% growth in in-force policies last year to 2.17 million, Esure set a target of 3 million in-force home and motor insurance policies by 2020. This year, the insurer launched an additional 12 segments for motor insurance, meaning the company can quote on 70% to 80% of the motor market without taking any material increase in risk. Although profitability on home insurance premiums was challenged by competition from price comparison websites and adverse weather at the start of the year, the group's dividends have risen since the insurer's demerger from GoCompare.com.

This time last year, esure (ESUR) raised a few eyebrows by forecasting gross written premium growth in 2016 of 10-15 per cent and a 4-6 per cent growth in policy numbers. This looked to be a hard ask, but in fact the motor and home insurer's gross written premiums rose by 19 per cent, while in-force policies were up by 8.6 per cent at 2.17m. The dividend is up, helped by a capital boost from the GoCompare.com (GOCO) demerger, and the latter business is also progressing well thusfar.

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An additional 12 segments were launched on the motor insurance side, which means the company can now offer quotes on 70-80 per cent of the motor market without taking any material increase in risk. Significantly, this will enhance its target of reaching 3m in-force policies by 2020. Premiums improved on the motor side, but the home market remained a challenge, with fierce competition driven by price comparison websites. Profitability was also dented by adverse weather at the start of the period.