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Direct Line Insurance Group PLC (DLGD.L)

DLGD.L on London Stock Exchange

355.50GBp
21 Nov 2017
Change (% chg)

0.20 (+0.06%)
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355.30
Open
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Volume
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Latest Key Developments (Source: Significant Developments)

Direct Line Insurance says 9-month gross written premium up by 4.2 pct to 2.60 bln pounds
Tuesday, 7 Nov 2017 02:00am EST 

Nov 7 (Reuters) - DIRECT LINE INSURANCE GROUP PLC ::TOTAL IN-FORCE POLICIES HAVE INCREASED BY 0.2% SINCE 30 SEPTEMBER 2016​.‍9-MONTH GROSS WRITTEN PREMIUM OF £2,601.4M INCREASED BY 4.2% COMPARED WITH FIRST NINE MONTHS OF 2016​.‍MOTOR, COMMERCIAL AND RESCUE BUSINESSES CONTINUED TO TRADE WELL IN QUARTER​.IN 2017 CO EXPECTS TO DELIVER COMBINED OPERATING RATIO AROUND MIDDLE OF TARGET RANGE OF 93% TO 95%.‍ON CLAIMS, DAMAGE SEVERITY REMAINED AT ELEVATED LEVELS, WHILE FREQUENCY SO FAR THIS YEAR HAS BEEN BETTER THAN EXPECTED.‍IN LINE WITH GROUP'S PREVIOUSLY STATED TARGETS, FY BUSINESS AS USUAL EXPENSE RATIO IS EXPECTED TO BE LOWER THAN 2016.‍GROUP NOW EXPECTS TO ACHIEVE 2.5% INVESTMENT INCOME YIELD IN 2017 VERSUS PREVIOUS EXPECTATION OF 2.4% INVESTMENT INCOME YIELD​.  Full Article

‍Direct Line Group announces a 15 pct equity stake in Canopy​
Monday, 2 Oct 2017 05:30am EDT 

Oct 2 (Reuters) - Direct Line Insurance Group Plc :‍DIRECT LINE GROUP ANNOUNCES A 15% EQUITY STAKE IN UK-BASED COMPANY CANOPY​.  Full Article

Prudential says Penny James to step down as group chief risk officer
Friday, 8 Sep 2017 04:32am EDT 

Sept 8 (Reuters) - PRUDENTIAL PLC ::‍PENNY JAMES TO STEP DOWN​.ANNOUNCES THAT PENNY JAMES IS STEPPING DOWN FROM HER ROLE AS GROUP CHIEF RISK OFFICER AND FROM BOARD ON 30 SEPTEMBER 2017.‍PENNY JAMES IS STEPPING DOWN FROM HER ROLE AS GROUP CHIEF RISK OFFICER AND FROM BOARD ON 30 SEPTEMBER 2017​.‍PAT CASEY, CURRENTLY CHIEF RISK AND COMPLIANCE OFFICER AT PRUDENTIAL UK & EUROPE, WILL TAKE UP ROLE OF GROUP CHIEF RISK OFFICER ON AN INTERIM BASIS​.‍PERMANENT REPLACEMENT FOR MS JAMES WILL BE ANNOUNCED IN DUE COURSE​.  Full Article

Direct Line brings on Prudential's CFO as new finance head
Friday, 8 Sep 2017 04:30am EDT 

Sept 8 (Reuters) - DIRECT LINE INSURANCE GROUP PLC ::‍PENNY JAMES TO SUCCEED JOHN REIZENSTEIN AS CFO OF DIRECT LINE GROUP​.‍PENNY JAMES WILL JOIN COMPANY AS CHIEF FINANCIAL OFFICER-DESIGNATE AND BOARD AS AN EXECUTIVE DIRECTOR ON 1 NOVEMBER 2017​.JAMES ‍WILL SUCCEED JOHN REIZENSTEIN AS CHIEF FINANCIAL OFFICER ON 1 MARCH 2018, ALL SUBJECT TO USUAL REGULATORY APPROVALS.  Full Article

Direct Line Insurance ups dividend 38.8 pct to 6.8 pence
Tuesday, 1 Aug 2017 02:00am EDT 

Aug 1 (Reuters) - Direct Line Insurance Group Plc :Interim dividend up 38.8 percent to 6.8 pence per share.Aim to grow regular dividend in line with business growth, expect to be in region of 2% to 3% per annum over medium term..Strong h1 results, rebasing dividend and refreshing targets.Direct line - reiterate current financial targets for 2017: combined operating ratio in range of 93% to 95% and investment income yield at 2.4%.Management targets maintaining a 93% to 95% combined operating ratio over medium term,.  Full Article

Direct Line updates on new solvency reporting structure
Friday, 19 May 2017 08:18am EDT 

May 19 (Reuters) - Direct Line Insurance Group Plc ::Updates on new solvency reporting structure.Capital coverage ratio as at Dec. 31, 2016 for group at 165 percent.  Full Article

Direct Line Q1 gross written premiums rise 4.2 pct to 810 mln stg
Wednesday, 3 May 2017 02:13am EDT 

May 3 (Reuters) - Direct Line Insurance Group Plc :Trading update for the first quarter of 2017.Gross written premium for ongoing operations 1 4.2% higher than q1 of 2016, with motor own brands increasing 11.2%.Investment income in line with expectations at £42.0 million and remains on course to achieve a 2.4% yield.Group continues to target a 2017 combined operating ratio 2 in range of 93% to 95% for ongoing operations, assuming a normal annual level of claims from major weather events and no further change to ogden discount rate.Reiterate our target of a cor 2 in range of 93%-95% for 2017.Motor own brands in-force policies by 5.9% compared to q1 2016, whilst home own brands in-force policies grew by 2.0% compared to q1 2016.Direct line for business also grew in-force policies by 5.3% compared to q1 2016.Group has increased prices in response to lower discount rate and anticipated impact on claims inflation.Average written premiums were up 6.6%.Challenging home market, where group slowed its growth.Home claims inflation started to increase in 2016 and continued to rise above group's long-term expectations in q1 2017.  Full Article

Direct Line posts 2016 operating profit of 403.5 mln stg
Tuesday, 7 Mar 2017 02:00am EST 

Direct Line Insurance Group Plc : Fy pretax profit 353 million stg . Final dividend up 5.4 percent to 9.7 penceper share . Total dividend 14.6 penceper share . Gross written premium for ongoing operations 1,2 up 3.9% to £3,274.1m (2015: £3,152.4m . 2016 results reflect one-off impact of using new ogden discount rate of minus 0.75% . Operating profit from ongoing operations of £403.5m . (pre-ogden discount rate reduction 3 : £578.6m; 2015: £520.7m) . Profit before tax of £353.0m (pre-ogden 3 : £570.3m; 2015: £507.5m) . Return on tangible equity 1, 2 of 14.2%, (pre-ogden 3 : 20.2%; 2015: 18.5%) . Adjusted for normal weather and before ogden discount rate change, combined operating ratio was 93.5%, towards lower end of target range of 93% to 95% . 5.4% increase in final dividend per share to 9.7 pence per share, (2015: 9.2 pence) . Total dividends per share for 2016, including special interim dividend of 10.0 pence per share paid in september 2016 following approval of group's partial internal model, of 24.6 pence per share (2015: 50.1 pence) . Group's estimated solvency ii capital coverage ratio 4 post dividend is 165%, above middle of group's risk appetite range of 140% - 180% (pre-dividend: 174%) . Partnership with psa peugeot citroën for telematics extended for 4 more years . Received approval from prudential regulation authority to use group's solvency ii partial internal model.  Full Article

UK rate change to add 50-75 stg to average comprehensive motor insurance policy - PwC
Monday, 27 Feb 2017 04:04am EST 

:Consultants PwC say a sharp cut in the UK's personal injury discount rate will lead to an annual increase of 50-75 pounds on an average comprehensive motor insurance policy..  Full Article

Direct Line sees lower profit before tax after Ogden rate cut
Monday, 27 Feb 2017 03:36am EST 

Direct Line Insurance Group Plc : Expects to recognise new discount rate in financial statements; also within solvency 2 ratio calculation for year ended 31 dec 2016 . Confirms it expects to achieve its guidance of combined operating ratio of towards lower end of 93 pct-95 pct range adjusted for normal weather for fy . New discount rate to reduce 2016 profit before tax by £215 million -£230 million after reinsurance recoveries . Estimates impact of moving to new discount rate to reduce year end solvency II capital coverage ratio before dividends, to higher end of 140-180 pct . Announcement has left open possibility of further changes implications of which have not been included within group's solvency calculation .Estimates that impact of moving to new discount rate to increase combined operating ratio for ongoing business by approximately 6 ppts.  Full Article

UPDATE 1-Insurer Direct Line's premium rises on strength in motor insurance

Nov 7 - Britain's largest motor insurer Direct Line Insurance Group posted on Tuesday a 4.2 percent rise in gross written premiums in the first nine months of 2017 helped by legal changes that raised the cost of motor insurance.