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Low risk approach spares company the big write-downs experienced by rivals

Zero: This is the total adjustment to profit insurer Esure (ESUR) made in its 2016 results after the gear-shift in the Ogden rate which led to significant write-downs at several of its peers.

The Government recently went further than expected in reducing the rate, used to determine compensation for victims of car accidents, from 2.5% to -0.75%.

While Direct Line (DLG), for example, reported a £217m hit to profit from the change, Esure says its low risk approach to underwriting and conservative reinsurance programme mitigated much of its exposure to the updated rate.

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