Motor business drives up performance

British insurer esure Group reported a near 30% increase in full-year pre-tax profit, boosted by higher prices for motor insurance.

The firm lowered its fullyear dividend to retain capital.

Esure, which also provides insurance products for home owners, pet owners and holiday makers, said pre-tax profit rose to £134 million in 2015, from £103.3m a year earlier.

The company said it would pay a final dividend of 7.3 pence per share, and would retain capital to “deliver stakeholder value over the medium to long term”.