ERS reports a decrease in COR following discount rate change
Specialist motor insurer ERS has reported a profit of £3.1m for the first half of 2019, a decrease on £5.6m for the same period last year.
Combined operating ratio has also slipped to 102.8% from 96.6% in 2018, with ERS attributing the decrease to a change in the discount rate.
Last month, the discount rate was increased to minus 0.25%
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