Ogden hit pushes ERS to H1 loss

Lloyd's specialist motor syndicate ERS reported a trading loss
of £13.0mn ($16.9mn) in the first half of this year after the
change to the Ogden discount rate hit its bottom line.
The loss is a stark reversal of the £7.3mn profit the
carrier generated in H1 2016, and follows a £10.0mn hit to
ERS's full-year 2016 results,revealed in February.ERS said that the H1 2017 Ogden charge related to the earning
out of business written before the discount rate...