Price war puts the brakes on Esure

LOWER car insurance prices fuelled a 7.4 per cent drop in premiums in the past three months at Esure.

Sheila's Wheels, Esure, Esure insurance, Esure premiums, Esure premiums drop, PH

Sheilas' Wheels is part of Esure

The firm behind Sheilas’ Wheels and price comparison site gocompare.com had 1.95 million insurance policies in force at the end of September, up 2.5 per cent on last year. But premiums fell 7.4 per cent to £149.6million in the three months to September 30. Motor premiums slumped 8.8 per cent while home premiums were broadly flat. Esure said it was still being forced to cut prices to stay competitive.

Chief executive Stuart Vann said: “We have seen some stabilisation in the UK motor market but it is too early to say if this represents a turn. The company, he added, “continued to position the business for future growth”. Shares fell 17½p to 222p.

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