Company
Direct Line Insurance Group PLC
LSE:DLG
Direct Line started in the UK in April 1985 with a single product - car insurance, and just one way for its customers to buy - over the telephone from a call centre in Croydon. Today, it has more than 5mln customers and a broad range of products and services. It does business over the phone and on the Internet, and also does do it internationally, with businesses in Germany and Italy.
100 stories
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FTSE 100 Live: Stocks close subdued session little changed
At the close, London's blue-chip index was down 8 points at 7,410 while the FTSE 250 rose 14.24 points, 0.1%, at 17,761.71
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FIVE at FIVE: Direct Line and Melrose soar; Pets at Home rocked by review; Jet2 cheery; FTSE 100
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
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FTSE 100 Live: Stocks off highs; US markets advance after payrolls data
London's blue chips remain in positive territory
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Car insurance costs soar, threaten to drive people of roads
Average insurance for UK drivers increased by 40% over the past year, Confused.com says
Most Brits want solar panels, but installation costs standing in way – report
Most British households want solar panels, according to Direct Line
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FTSE 100 ekes out small gain to close above 7,900
The FTSE 100 hung onto small gains to close a few points higher at 7,901, hitting a new session peak of 7,903
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Direct Line has ‘a lot to do’ after profits slide – brokers
Direct Line has been left with "a lot to do" after a poor showing in 2022, brokers say, adding its results were as "ugly as can be"
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Direct Line chief executive Penny James steps down after profit warning
The company said its board is initiating a process to identify and appoint a successor and, until that process is complete, Jon Greenwood, currently its chief commercial officer, has been appointed acting CEO
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Direct Line remains in favour at RBC despite reduced price target
“The UK Motor market remains structurally challenged with the turnaround point, when margins stabilise, perhaps being pushed out a bit further than some had hoped for” analyst at the broker wrote.
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Direct Line third-quarter sales decline, hit by falls in Home and Motor markets
In a trading statemen, the insurance company said group premiums fell 5.8% to £807.2mln with double-digit falls in its Motor and Home insurance units offsetting rises in the Rescue and Commercial arms of the business
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Direct Line passes the buck to customers with a 15% premium hike
Claims inflation puts the brakes on UK motor insurance sector
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Direct Line profits weighed down by claims inflation
The cost of motor claims is rising faster than the pace of premiums
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Direct Line expects full-year operating ratio to be worse than previously guided, shares down
The insurer said it has suspended the second tranche of its £100mln share buyback programme, which was announced earlier in the year
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Motor insurance sector hurt but not broken by Sabre's profit warning, says Berenberg
Admiral and Direct Line are still worth buying says broker
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Direct Line cautious over 'claims inflation'
Drops in Motor (5.4%), Home (9.9%), and Rescue (2.2%) were offset by the 11.6% gain in Commercial premiums
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Direct Line operating profits rise on strong underwriting results; plans £100mln share buyback
Operating profits grew by over 11% to £581.8mln last year
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Direct Line rated as ‘buy’ at Deutsche Bank
It recognises pricing volatility may continue in the short-term, but is optimistic over long-term prospects
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Direct Line sees slight dip in motor insurance premiums written
"Whilst market pricing in the first few months of 2022 is likely to be volatile as the market resets, our brands, customer focus and diversified business model mean we remain confident," said CEO, Penny James
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UK car insurance prices fall 16%, outlook for 2022 "extremely uncertain"
Supply chain problems and the FCA price walking ban will impact insurance prices next year
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Direct Line's bumper dividend supported by rising motor premiums, says RBC
Premiums have been turning up since April says the broker
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Direct Line short of share price drivers according to Deutsche Bank
There is similar or better value elsewhere in the UK insurance sector, concludes the broker.
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Direct Line profits boosted by good weather and fewer accidents
A new Motor platform has now been rolled out across the Direct Line, Churchill and Privilege brands
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Direct Line 'highly attractive' as Berenberg expects 20% profit uplift
In our view, Direct Line’s high level of capital returns can continue"
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Insurers told to scrap 'loyalty penalty' from start of next year
Shares in Direct Line, which does not sell policies through price comparison sites, rose 2%
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Lower motor premiums dent Direct Line's numbers
Direct Line blames subdued claims, low levels of new car sales and fewer new drivers entering the market
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Motor insurer Direct Line a good bet for income reckons broker
Premiums might rise by as much as 9% year-on-year in 2021
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Direct Line in £100mln buyback as low motor claims boost underwriting
Weather payments rose to £46mln (£6mln), though this was below company expectations of a £64mln cost.
Builders and building materials
Direct Line Insurance reports mixed third quarter
Total gross written premium for the three months to end-September was down 0.8% on this time last year
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Direct Line among JP Morgan’s top picks in European insurance sector
The investment bank said that while the sector has “underperformed significantly” in the year to date, they said the decline had “overshot the widening in credit spreads” which suggested that the industry “could recover some ground”
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Insurance companies retreat as FCA calls time on higher prices for existing customers
Insurers penalising loyal customers through higher premiums is known as price walking
Direct Line the only UK insurer in JPMorgan's European top picks
UK life insurers have capital return attractions but are seen as too risky
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Direct Line proposes special dividend to make up for cancelled 2019 distribution
Operating profit for the six months to June shed 3% to £246mln but was ahead of consensus of £239mln
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Watchdog launches coronavirus measures to encourage insurers to treat customers fairly
“The measures confirmed today will provide urgent support to those that need it,” said the FCA
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Direct Line sets aside £70mln after 70% drop in motor claims
The insurer's estimated solvency capital ratio has increased to around 177%, which is near the top of the group’s risk appetite range
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FTSE 100 closes near flat as traders eye US jobs report but Ocado shines
Britain's blue chip benchmark finished the day just over four points higher at 5,853