SPECIALIST motor insurer ERS is to consolidate into two locations: London and Swansea, to support its ambitious plan to achieve a 90% Combined Operating Ratio.
The A+ rated Lloyd’s syndicate is expanding its London operation to provide more space to house all its underwriters and improve access for brokers, which in turn will enable the planned growth in the business.
London is at the heart of the insurance industry and the decision to increase ERS’ presence here also supports its plan to continue to attract high calibre talent.
The move will simplify the business and help to reaffirm ERS’ focus as a “specialist-motor, broker-only” insurer.
The specialist motor insurer has been expanding its presence in Swansea since private equity firm Aquiline bought it from IAG in 2013.
ERS wishes to continue building upon this and, with the support of the Welsh Assembly, ERS plans to boost headcount and move to larger premises.
The decision has involved an extensive review of ERS’ operating model and organisational structure and involves the closure of the Brentwood office. Work that has been carried out in Brentwood will be split between London and Swansea and employees in Brentwood will enter a period of consultation lasting 45 days and ending on May 14.
CEO Ian Parker said: “This is a pivotal point in ERS’ transformation and the restructure is part of a far wider plan focused on growth and achieving a 90% COR. The move will mean our employees face more change but, as our first full year profit for five years proves, our employees understand why we have taken the difficult decisions we have to turn our business around.
“The decision to focus on two locations has not been taken lightly and is the product of months of strategic planning. I am confident when I say that we would not be able to get to where we need to, and where we are able to if we did not take this action.”
ENDS
For more information please contact:
Liz McMahon
ERS PR & Communications Manager
0770 4542318
liz.mcmahon@ers.com
