Acorn Group grows GWP by 41% in 2024 as COR remains below 90%

Acorn Group managed to increase its gross written premium (GWP) in the 12 months to 2024 after increasing its investments in pricing, data science, claims and technology teams.

In a trading update published today (7 April 2025), the provider of non-standard car, van, taxi and household insurance said GWP rose by 41% year-on-year to £742m.

The business also recorded 607,000 gross vehicle years, marking an 30% rise compared to the previous year, while its combined operating ratio (COR) remained below 90%.

Mike Lloyd, Acorn Group chief executive, said: “This year’s results show the strength of our strategy, the hard work of our teams and our ability to adapt in a fast-moving market.

“We’ve seen strong growth across all key lines, driven by smart underwriting, advanced pricing and a deep understanding of our customers’ needs.”

Investments

As part of its long-term strategy, the business completed the roll-out of its new policy management system for its direct motor businesses last year to enhance operational agility and customer service capabilities.

Acorn Group also increased its investments in pricing, data science, claims and technology teams and put money into developing new and scale up areas.

These have included the launch of the Briefly brand – a new offering designed to capitalise on the short-term car and van insurance market – and a strategic partnership with Flock, expanding its capabilities in the commercial fleet market.

Lloyd said: “The investments we’ve made in technology, data science and automation are already making a difference – streamlining operations, improving risk selection and creating a smoother experience for our customers.

“With a solid capital position, a suite of innovative solutions for the non-standard insurance market and a loyal customer base, we’re in a great position to seize new opportunities and continue to drive profitable growth.”