Ensure warns over premium hit

Sheilas’ Wheels owner esure warned that premium income growth was set to slow as rates come under pressure amid a car insurance price war.

The caution took the shine off esure’s maiden set of half-year results after floating on the stock market earlier this year, which showed pre-tax profits climbing 15.2% to £56.9m, with gross written premiums up 6.7% to £265.4m.