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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
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.
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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"
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
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.
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
Direct Line passes the buck to customers with a 15% premium hike
Claims inflation puts the brakes on UK motor insurance sector
Direct Line profits weighed down by claims inflation
The cost of motor claims is rising faster than the pace of premiums
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
Motor insurance sector hurt but not broken by Sabre's profit warning, says Berenberg
Admiral and Direct Line are still worth buying says broker
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