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Markets News

Direct Line overall premiums dip as pandemic hits new car sales

Nov 10 (Reuters) - Motor insurer Direct Line on Tuesday posted lower premiums due to weak car sales in the face of COVID-19 crisis, but said premium growth in its roadside rescue and recovery service business Green Flag returned to pre-pandemic levels.

Direct Line’s gross written premiums for the third quarter ended Sept. 30 dipped 0.8% to 851.5 million pounds ($1.12 billion), with its biggest segment - motor insurance - recording a 2.3% drop.

($1 = 0.7590 pounds)

Reporting by Muvija M in Bengaluru, Editing by Sherry Jacob-Phillips

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