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BRIEF-Direct Line loses Nationwide Building Society deal from 2017
December 17, 2015 / 9:19 AM / in 2 years

BRIEF-Direct Line loses Nationwide Building Society deal from 2017

Dec 17 (Reuters) - Direct Line Insurance Group Plc :

* Announced at full year 2014 results that its home insurance partnership with Nationwide Building Society (“NBS”) was being retendered

* Tender process is now complete, and group confirms that from spring 2017 it will no longer underwrite home insurance for NBS’s customers

* Policies in force at that time will run off over a 12 month period until spring 2018

* In 2014, gross written premium relating to NBS was 201.7 million pounds, which accounted for 22.4 pct of group’s home gross written premium Source text for Eikon: Further company coverage: (Bengaluru Newsroom + 91 80 6749 1136)

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