Originally Posted by
ronaldson
Just shows what an absence of "large events" weighing on the result can have. A "good" year in that context can improve profitability disproportionally.
And even allowing for the impact of premium adjustments for inflation, and adverse claims ratio experience, a rise in Gross Written Premiums for the year of 17% seems to me to be growth on steroids despite a highly competitive marketplace, and points to a strong future. This company has a "fit for purpose" digital platform that is starting to take it places!
But no surprise that provisioning for the remediation of failures in applying discounts to those who were/are multiple policy holders has to be increased. The scale of the issue and the administration costs involved were always going to exceed an initial assessment.
As quite a sizeable holder under various accounts I have an optimistic view here. FY24 could/should tell the tale.