May 3, 2018 / 6:34 AM / 3 months ago

Insurer esure blames rising costs on tough British winter

May 3 (Reuters) - British insurer esure Group Plc on Thursday said claims related to a spell of extreme winter weather resulted in higher-than-expected costs in its home insurance business in the first-quarter.

Gross written premiums, however, rose 18 percent to 221.2 million pounds ($300.72 million) for the three months ended March 31, helped by a 21.1 percent jump in motor gross written premiums.

The insurer said the disruption caused by ‘The Beast from the East’ and ‘Storm Emma’ over the period resulted in 8 million pounds ($10.88 million) of claims costs in its home insurance business, which is 6 million pounds ahead of company’s expectations. ($1 = 0.7356 pounds) (Reporting by Radhika Rukmangadhan in Bengaluru, editing by Sinead Cruise)

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