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BRIEF-Direct Line Insurance says 9-month gross written premium up by 4.2 pct to 2.60 bln pounds
November 7, 2017 / 7:18 AM / 15 days ago

BRIEF-Direct Line Insurance says 9-month gross written premium up by 4.2 pct to 2.60 bln pounds

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​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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