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Direct Line Insurance Group PLC (DLGD.L)

DLGD.L on London Stock Exchange

322.60GBp
12 Nov 2018
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Latest Key Developments (Source: Significant Developments)

Direct Line Insurance Says Co On Course To Meet 2018 & Medium-Term Financial Targets
Tuesday, 6 Nov 2018 

Nov 6 (Reuters) - Direct Line Insurance Group PLC ::TRADING UPDATE FOR THE THIRD QUARTER OF 2018.QTRLY MOTOR GROSS WRITTEN PREMIUM 456.4 MILLION POUNDS VERSUS 462 MILLION POUNDS REPORTED LAST YEAR.GROUP'S PERFORMANCE DURING QUARTER WAS ROBUST IN A COMPETITIVE MARKET- CEO.QTRLY GROSS WRITTEN PREMIUM 854.5 MILLION POUNDS VERSUS 907.2 MILLION POUNDS REPORTED LAST YEAR.ON COURSE TO MEET 2018 AND MEDIUM-TERM FINANCIAL TARGETS.WE ARE ON TRACK TO BEGIN ROLLING OUT OUR NEW PERSONAL LINES SYSTEMS IN 2019- CEO.Q3 MOTOR IN-FORCE POLICIES GREW BY 1.9 PCT (OWN BRANDS: 3.0 PCT GROWTH) COMPARED TO PRIOR YEAR.Q3 PREMIUMS WERE LOWER BY 1.2 PCT (OWN BRANDS: 0.5 PCT LOWER) AS A RESULT OF LOWER AVERAGE PREMIUMS.Q3 UNDERLYING CLAIMS INFLATION WAS AT UPPER END OF GROUP'S LONG-TERM EXPECTATION OF 3 PCT TO 5 PCT.  Full Article

Direct Line Insurance Says To Pay Special Dividend Of 15 Pence
Tuesday, 27 Feb 2018 

Feb 27 (Reuters) - Direct Line Insurance Group Plc ::SAYS FINAL DIVIDEND UP 40.2% TO 13.6P AND SPECIAL DIVIDEND OF 15.0P.FY ESTIMATED SOLVENCY II CAPITAL COVERAGE RATIO POST DIVIDEND IS ‍162​ PERCENT.FY COMBINED OPERATING RATIO FROM ONGOING OPERATIONS AT ‍91.8​ PERCENT VERSUS 97.7 PERCENT.FY OPERATING PROFIT FROM ONGOING OPERATIONS AT 610.9 MILLION STG VERSUS 403.5 MILLION STG AS REPORTED A YEAR AGO.‍TOTAL DIVIDENDS FOR 2017 OF 35.4 PENCE PER SHARE (2016: 24.6 PENCE)​.FY GROSS WRITTEN PREMIUM 3,392.1 MILLION STG VERSUS 3,274.1 MILLION STG.• FY PROFIT BEFORE TAX AT 539.0 MILLION STG VERSUS 353 MILLION STG AS REPORTED A YEAR AGO.FY RETURN ON TANGIBLE EQUITY OF ‍21.7​ PERCENT."‍CONTINUE TO TARGET A COMBINED OPERATING RATIO OF 93% TO 95% OVER MEDIUM TERM"​.‍DECLARING A SPECIAL DIVIDEND OF 15.0 PENCE​.DIRECT LINE INSURANCE GROUP - FOR 2018, GROUP TARGETS NET INVESTMENT INCOME YIELD AROUND 2.1% WITH OVERALL INVESTMENT RETURN IN THE REGION OF £150 MILLION.  Full Article

Direct Line Insurance Completes Capital Management Exercises​
Friday, 8 Dec 2017 

Dec 8 (Reuters) - Direct Line Insurance Group Plc ::ANNOUNCES SUCCESSFUL COMPLETION OF CAPITAL MANAGEMENT EXERCISES​.‍TENDER OFFER RESULTED IN REPURCHASE OF £250M NOMINAL OF TIER 2 DEBT AT A VALUE OF C.£327M BEFORE ACCRUED INTEREST​.‍REMAINING £250M (NOMINAL) HAS A FIRST CALL DATE OF 27 APRIL 2022​.‍NET RESULT OF THESE TRANSACTIONS WILL BE AN IFRS POST-TAX CHARGE FOR YEAR ENDING 31 DECEMBER 2017 OF CIRCA £53M​.‍PRE-TAX CHARGE WILL BE TAKEN PRIMARILY THROUGH 'FINANCE COSTS' LINE OF GROUP INCOME STATEMENT​.‍TRANSACTIONS BENEFIT SOLVENCY CAPITAL REQUIREMENT COVERAGE RATIO BY CIRCA 2PPT.THERE WILL BE NO MATERIAL IMPACT ON GROUP'S DIVIDEND CAPACITY AS A RESULT OF TRANSACTIONS​.  Full Article

Direct Line Insurance says 9-month gross written premium up by 4.2 pct to 2.60 bln pounds
Tuesday, 7 Nov 2017 

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​.  Full Article

‍Direct Line Group announces a 15 pct equity stake in Canopy​
Monday, 2 Oct 2017 

Oct 2 (Reuters) - Direct Line Insurance Group Plc :‍DIRECT LINE GROUP ANNOUNCES A 15% EQUITY STAKE IN UK-BASED COMPANY CANOPY​.  Full Article

Prudential says Penny James to step down as group chief risk officer
Friday, 8 Sep 2017 

Sept 8 (Reuters) - PRUDENTIAL PLC ::‍PENNY JAMES TO STEP DOWN​.ANNOUNCES THAT PENNY JAMES IS STEPPING DOWN FROM HER ROLE AS GROUP CHIEF RISK OFFICER AND FROM BOARD ON 30 SEPTEMBER 2017.‍PENNY JAMES IS STEPPING DOWN FROM HER ROLE AS GROUP CHIEF RISK OFFICER AND FROM BOARD ON 30 SEPTEMBER 2017​.‍PAT CASEY, CURRENTLY CHIEF RISK AND COMPLIANCE OFFICER AT PRUDENTIAL UK & EUROPE, WILL TAKE UP ROLE OF GROUP CHIEF RISK OFFICER ON AN INTERIM BASIS​.‍PERMANENT REPLACEMENT FOR MS JAMES WILL BE ANNOUNCED IN DUE COURSE​.  Full Article

Direct Line brings on Prudential's CFO as new finance head
Friday, 8 Sep 2017 

Sept 8 (Reuters) - DIRECT LINE INSURANCE GROUP PLC ::‍PENNY JAMES TO SUCCEED JOHN REIZENSTEIN AS CFO OF DIRECT LINE GROUP​.‍PENNY JAMES WILL JOIN COMPANY AS CHIEF FINANCIAL OFFICER-DESIGNATE AND BOARD AS AN EXECUTIVE DIRECTOR ON 1 NOVEMBER 2017​.JAMES ‍WILL SUCCEED JOHN REIZENSTEIN AS CHIEF FINANCIAL OFFICER ON 1 MARCH 2018, ALL SUBJECT TO USUAL REGULATORY APPROVALS.  Full Article

Direct Line Insurance ups dividend 38.8 pct to 6.8 pence
Tuesday, 1 Aug 2017 

Aug 1 (Reuters) - Direct Line Insurance Group Plc :Interim dividend up 38.8 percent to 6.8 pence per share.Aim to grow regular dividend in line with business growth, expect to be in region of 2% to 3% per annum over medium term..Strong h1 results, rebasing dividend and refreshing targets.Direct line - reiterate current financial targets for 2017: combined operating ratio in range of 93% to 95% and investment income yield at 2.4%.Management targets maintaining a 93% to 95% combined operating ratio over medium term,.  Full Article

Direct Line updates on new solvency reporting structure
Friday, 19 May 2017 

May 19 (Reuters) - Direct Line Insurance Group Plc ::Updates on new solvency reporting structure.Capital coverage ratio as at Dec. 31, 2016 for group at 165 percent.  Full Article

Direct Line Q1 gross written premiums rise 4.2 pct to 810 mln stg
Wednesday, 3 May 2017 

May 3 (Reuters) - Direct Line Insurance Group Plc :Trading update for the first quarter of 2017.Gross written premium for ongoing operations 1 4.2% higher than q1 of 2016, with motor own brands increasing 11.2%.Investment income in line with expectations at £42.0 million and remains on course to achieve a 2.4% yield.Group continues to target a 2017 combined operating ratio 2 in range of 93% to 95% for ongoing operations, assuming a normal annual level of claims from major weather events and no further change to ogden discount rate.Reiterate our target of a cor 2 in range of 93%-95% for 2017.Motor own brands in-force policies by 5.9% compared to q1 2016, whilst home own brands in-force policies grew by 2.0% compared to q1 2016.Direct line for business also grew in-force policies by 5.3% compared to q1 2016.Group has increased prices in response to lower discount rate and anticipated impact on claims inflation.Average written premiums were up 6.6%.Challenging home market, where group slowed its growth.Home claims inflation started to increase in 2016 and continued to rise above group's long-term expectations in q1 2017.  Full Article

Direct Line reports 5.8 pct fall in qtrly gross written premium

Nov 6 Britain's largest motor insurer Direct Line Insurance Group reported a 5.8 percent drop in quarterly gross written premiums on Tuesday, hurt by lower average premiums for motor insurance policies and increased competition.