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Pin to quick picksEsure 6.7524 Regulatory News (10MT)

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esure Group plc - Solvency Capital Coverage

Fri, 3rd May 2019 17:28

RNS Number : 0984Y
esure Group plc
03 May 2019
 

 

3 May 2019

 

esure Group plc

(the "Company")

 

Solvency Capital Coverage

esure Group plc ("the Group") today announces that its solvency capital coverage ratio is 149% as at 31 March 2019 (31 December 2018: 108%). The solvency capital coverage ratio has increased due to the Group implementing a reinsurance arrangement (Loss Portfolio Transfer combined with Adverse Development Cover).  

 

Notes

(1)  Loss Portfolio Transfer is a reinsurance arrangement where a reinsurer assumes and accepts the Group's existing open and future claims liabilities through the transfer of the Group's net claims liabilities at 31 March 2019.

(2)  Adverse Development Cover is a reinsurance arrangement where cover attaches on aggregate basis and limits net claims liabilities deteriorating beyond a pre-agreed point.

 

 

For further information, please contact:

Alice Rivers

Company Secretary

t: +44 (0)1737 235504

 

Chris Wensley

Head of Investor Relations & Corporate Strategy

t: +44 (0)1737 641324

e: ir@esure.com 

 

LEI: 213800KOI3F5LM54PT80

ISIN: GB00B8KJH563

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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