BRIEF-Egypt's Naeem Holding board approves capital increase
* Board approves issued and paid-up capital increase to $218.6 million from $198.7 million through bonus share issue Source: (http://bit.ly/2qvUGWl) Further company coverage: )
LONDON May 3 British motor and home insurer Direct Line Insurance Group reported a 4.2 percent rise in gross written premiums in the first quarter, boosted by strong performance in its auto business, it said on Wednesday.
Gross written premiums rose to 810 million pounds ($1.04 billion), in line with a forecast by analysts KBW.
Direct Line, whose brands include Churchill, Green Flag and Privilege, said in a statement it continued to target a 2017 combined operating ratio in a 93-95 percent range for continuing operations.
Combined ratio is a measure of underwriting profitability in which a level below 100 percent indicates a profit.
However, performance in home insurance was "challenging", Direct Line said, due to a rise in claims costs.
Gross written premiums fell 3.9 percent in home insurance from a year earlier, compared with an 8.9 percent rise in motor gross written premium.
($1 = 0.7759 pounds) (Reporting by Carolyn Cohn; Editing by Rachel Armstrong)
DUBAI, May 28 Gulf stock markets may have a soft tone in thin trade on Sunday after global oil producers agreed after the close on Thursday to extend cuts in output by nine months to March 2018.