Sheilas’ Wheels News Update: Premium Income Growth Slow
Sheilas’ Wheels News Update: Premium income growth slow, the company reported that a price war has put rates under pressure leading to sluggish progress.
A car insurance price war has caused a slowing up of income growth the however of Sheilas’ Wheels, Esure has said. This set back and slow down had caused a shadow to be cast over the set of half-year results after its float on the stock market earlier this year. Pre tax profits climbed to almost fifty seven million pounds a rise of just over fifteen per cent. However shares fell by some eight per cent on revelation of the premium income slow down and the interim dividend payout was below the forecast of the city. Over all however, the Chief Executive of Sheilas’ Wheels Stuart Vann, said that the figures had shown improvement in a difficult trading climate and that he was pleased with the progress being made.
He said that the company had seen an increase in competitiveness surrounding pricing with the personal motoring insurance market showing sharp competitive tendencies, and the Chief Executive said that overall he was pleased with the performance of the company in a very competitive market place that was tough for everyone.
Sheilas’ Wheels News Update
As the competition for our motor insurance business hots up the figures that the AA have released show that the cost of the average comprehensive motor insurance had dropped by just under ten per cent over the past year. In view of these figures Esure have said that the slow down in the growth of annual premium income could be seen to be offset against the positive factors that include the impact of the newly imposed gender rules on the female biased ethos of Sheilas’ Wheels. The new gender regulation means that it is now not possible to offer cheaper insurance premiums to anyone on the basis of what sex they are. The result of this has been a much larger rate of increase in the insurance premiums that women motorists are having to pay, especially amongst those girls who are applying for their first insurance.
Although it may be possible for Sheilas’ Wheels to offer advantageous insurance in other areas to women it will no longer be possible for them to attract female customers by way of the lower premiums that traditionally reflect the fact that women claim less and have less accidents than men do.
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