esure Group plc

("the Company")

Notice of publication of Annual Report and Accounts, and associated documents, for the year ended 31 December 2024

The Annual Report and Accounts, the Solvency and Financial Condition Report and 2024 Results Update for the year ended 31 December 2024 are now available on the Company's website at: https://www.esuregroup.com/investors/results-presentations.

esure Group 2024 Results

A pivotal year with transformation complete, demonstrating strong growth and financial performance while delivering enhanced experience for customers.

David McMillan, Chief Executive Officer, esure Group, said:

"2024 was a landmark year as we completed our multi-year transformation and delivered on our vision to build the UK's pre-eminent digital insurer.

We have strengthened the business with a focus on optimising customer experience on our new platform and expanding our product offering. Leveraging the benefits of the transformation and maintaining a disciplined approach to trading has also enabled us to deliver record financial performance, laying strong foundations to achieve our long-term growth plans.

Our market leading platform has unlocked huge potential for us and there is plenty more still to deliver, as we look to further enhance customer experience, broaden our reach through enhanced product and distribution capabilities, and drive operating leverage through our highly scalable cost base.

The strength of our pricing and underwriting fundamentals, supported by cutting-edge data and AI capability, will be critical to trade successfully in a competitive market - and with our transformation spend now behind us, we're well-positioned to deliver continued sustainable, profitable growth.

I'm very optimistic about the opportunities that lie ahead."

Highlights

·    Completion of multi-year transformation

o  Completed migration of all customer policies, claims and 1.6 billion data points onto our cloud-native platform in Quarter 1, and fully decommissioned our legacy technology just three months later in Quarter 2.

·    Investment and disciplined trading resulted in strong profitability and return to growth in customer numbers

o  Increased In-force policies to 2.13 million with growth of 8% in the second half once migration was complete

o  Combined Operating Ratio improved by 18ppt: Loss Ratio improved by 14.2ppt reflecting strong pricing discipline; expense ratio improved by 3.8ppt as dual run costs fell away

o  Delivered £127 million of trading profit (+£144 million year-on-year), which also flowed into strong solvency coverage at 172%

o  Non-trading costs have now fallen away following completion of migration and decommissioning.

o  Our Home business saw strong new business sales in the second half of the year, contributing to record full-year trading profit.

·    Consistent improvement across customer metrics

o  Real-time insights on the new platform mean we can quickly respond to evolving customer needs. This has driven a relentless focus to improve customer experience and speed-up service through intuitive, digital-first journeys.

o  80% of contacts are now fully self-served online (December 2024) and 92% of customers are finding the information they need straightaway (vs. 87% in December 2023), with 72% rating their digital experience as 'easy' (vs. 52% in December 2023) and 83% of customers rating their renewals as 'easy' (vs. 58% in February 2024, when this metric was first tracked).

o  Relationship Net Promoter Score finished 2024 at 35 and has since climbed to mid-40s.

o  Newly launched esure app will further increase digital channel adoption whilst also giving our customers additional utility beyond core cover.

·    Exceptional data capability and industry-leading use of AI and Machine Learning

o  Ability to rapidly ingest large quantities of data on new platform to improve understanding of customer behaviour, pricing accuracy and responsiveness.

o  23k data events processed every minute, with a total of c.900bn data assets held; 50 new proprietary factors developed in house, enabling a more granular risk assessment; more than 135 model updates implemented in 2024 to respond to inflation and market pricing.

o  As part of an innovative data partnership esure now has 3.6 billion traffic records covering every major road in the UK, enabling more accurate pricing models and bespoke premiums.

o  New proprietary data mining tool has been scaled for fraud detection and reviewed 2.5 million documents in 2024 with a 246% increase in document detection rate vs. previous third-party solution.

Outlook

·    We have a strong foundation to deliver profitable, sustainable growth after a transitional year in which profitability was restored through a combination of the disciplined pricing approach, enhanced product and distribution capabilities post migration and the end of dual-running and transformation expenditure.

·    Having successfully completed the Group transformation programme, the business and our customers will benefit from the new technology and data platform.

·    While inflation has eased somewhat, market dynamics and macroeconomic conditions remain uncertain, so esure will continue to maintain its prudent and disciplined approach to pricing and underwriting.

·    We are well positioned to capitalise on a lower cost to serve, a more efficient operating platform and advanced data science and analytical capabilities to deliver long-term profitable, sustainable growth.

For further information, please contact:

Teneo (Financial PR)

+44 (0)20 7353 4200

esure@teneo.com

Louise Male

Oscar Burnett

esure

Peter Bole - Chief Financial Officer

company.secretary@esure.com

Forward-looking statements

Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of known and unknown risks and uncertainties that may cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements. Persons receiving this announcement should not place undue reliance on forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, the esure Group does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.