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Insurer Direct Line posts 4.2 pct rise in 9-mth premium
November 7, 2017 / 7:33 AM / a month ago

Insurer Direct Line posts 4.2 pct rise in 9-mth premium

Nov 7 - Britain’s largest motor insurer Direct Line Insurance Group posted a 4.2 percent rise in gross written premiums in the first nine months of 2017 helped by legal changes raised the cost of motor insurance.

Gross written premiums rose to 2.6 billion pounds ($3.42 billion)in the nine months to September 30 from 2.5 billion a year earlier.

Direct Line, whose brands include Churchill, Green Flag and Privilege, said it expected its combined operating ratio, a measure of underwriting profitability for general insurers, to be in a range of 93 percent to 95 percent.

A ratio below 100 percent indicates an underwriting profit.

$1 = 0.7605 pounds Reporting by Noor Zainab Hussain and Radhika Rukmangadhan in Bengaluru; editing by Jason Neely

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