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Direct Line Insurance Group Plc Announces Sale Of Direct Line Life Business To Chesnara Plc

Tuesday, 8 Oct 2013 02:00am EDT 

Direct Line Insurance Group PLC announced that it has reached a binding agreement with Chesnara plc (Chesnara) for the sale of Direct Line Group's UK closed life insurance business, Direct Line Life Insurance Company Limited (DLL). Total sale proceeds of GBP62 million, which include a pre-closing dividend of GBP23 million, represent 85% of the embedded value of DLL at June 30, 2013. 

Company Quote

-2.0 -0.56%
8:22am EDT