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Direct Line Insurance Group PLC (DLGD.L)

DLGD.L on London Stock Exchange

275.90GBp
26 Oct 2020
Change (% chg)

-6.30 (-2.23%)
Prev Close
282.20
Open
278.30
Day's High
281.30
Day's Low
275.90
Volume
2,208,847
Avg. Vol
3,447,029
52-wk High
355.00
52-wk Low
225.40

Latest Key Developments (Source: Significant Developments)

Direct Line Insurance Announces Special Interim Dividend Of 14.4 Pence Per Share
Tuesday, 4 Aug 2020 

Aug 4 (Reuters) - Direct Line Insurance Group PLC ::DIRECT LINE INSURANCE - HY GROSS WRITTEN PREMIUM 1,580.8 MILLION STG VERSUS 1,575.1 MILLION STG REPORTED LAST YEAR.DIRECT LINE INSURANCE - INTERIM ORDINARY DIVIDEND OF 7.4 PENCE PER SHARE.DIRECT LINE INSURANCE - HY OPERATING PROFIT OF £264.9 MILLION WAS £9.4 MILLION LOWER THAN H1 2019.DIRECT LINE INSURANCE - HY COMBINED OPERATING RATIO 90.3% VERSUS 92.5%.DIRECT LINE INSURANCE - FOR 2020, REITERATE OUR TARGET OF A COMBINED OPERATING RATIO OF 93% TO 95% NORMALISED FOR WEATHER.DIRECT LINE INSURANCE - ANTICIPATE RESTRUCTURING COSTS OF £60 MILLION OVER 2019 AND 2020 WILL BE INCURRED IN FULL.DIRECT LINE INSURANCE - EXPECTS A NET INVESTMENT YIELD OF APPROXIMATELY 1.8% IN 2020.DIRECT LINE INSURANCE - TARGETS IMPROVING CURRENT-YEAR CONTRIBUTION TO OPERATING PROFIT TO AT LEAST 50% BY 2021.DIRECT LINE INSURANCE - REITERATE TARGETS OF ACHIEVING A COMBINED OPERATING RATIO OF 93% TO 95% NORMALISED FOR WEATHER IN 2021 & OVER MEDIUM TERM.DIRECT LINE INSURANCE - MAY NOT BE ABLE TO ACHIEVE £50M SAVINGS BY 2021.DIRECT LINE INSURANCE - SPECIAL INTERIM DIVIDEND OF 14.4 PENCE PER SHARE.  Full Article

Direct Line Selects Danuta Gray To Succeed Mike Biggs As Chair
Thursday, 14 May 2020 

May 14 (Reuters) - Direct Line Insurance Group PLC ::DIRECT LINE INS GRP - DIRECT LINE GROUP CHAIRMAN SUCCESSION.DIRECT LINE INSURANCE GROUP PLC - SELECTED DANUTA GRAY, NON-EXECUTIVE DIRECTOR AND CHAIR OF REMUNERATION COMMITTEE, TO SUCCEED MIKE BIGGS AS CHAIR.  Full Article

Direct Line Qtrly Motor Gross Written Premium 410.9 Mln Stg Vs 386.9 Mln Stg
Wednesday, 6 May 2020 

May 6 (Reuters) - Direct Line Insurance Group PLC ::DIRECT LINE INS GRP - TRADING UPDATE FOR Q1 2020 AND COVID-19 UPDATE.DIRECT LINE INSURANCE GROUP PLC - WILL REVIEW OUR DIVIDEND POSITION ALONGSIDE OUR HALF YEAR RESULTS.DIRECT LINE INSURANCE GROUP PLC - IMPLEMENTED INITIATIVES ACROSS BUSINESS AT AN EXPECTED COST OF IN REGION OF £70 MILLION..DIRECT LINE INSURANCE GROUP PLC -QTRLY GROSS WRITTEN PREMIUMS 789.6 MILLION STG VERSUS. 753.9 MILLION STG AS REPORTED LAST YEAR.DIRECT LINE INSURANCE GROUP PLC - QTRLY MOTOR GROSS WRITTEN PREMIUM 410.9 MILLION STG VERSUS. 386.9 MILLION STG.DIRECT LINE INSURANCE GROUP PLC - FOR 2020, WE REITERATE OUR TARGET OF A COMBINED OPERATING RATIO OF 93% TO 95% NORMALISED FOR WEATHER.DIRECT LINE INSURANCE GROUP - EXPECT SOME IMPACT TO TIMING OF OUR COST SAVING PROGRAMME DUE TO ACTIONS WE ARE TAKING IN FACE OF COVID-19.DIRECT LINE INSURANCE GROUP - ESTIMATE IMPACT OF COVID-19 DISRUPTION TO TRAVEL BUSINESS WILL BE APPROXIMATELY £44 MILLION.DIRECT LINE INSURANCE GROUP PLC - ESTIMATED SOLVENCY CAPITAL RATIO AT 31 MARCH 2020 WAS 174% INCREASING TO AN ESTIMATED 177% ON 1 MAY 2020.DIRECT LINE INSURANCE - MAY NOT ACHIEVE TARGET OF REDUCING OPERATING EXPENSES BY £50 MILLION BY 2021..  Full Article

Direct Line Suspends Share Buybacks Due To Covid-19 Pandemic
Thursday, 19 Mar 2020 

March 19 (Reuters) - Direct Line Insurance Group PLC ::DIRECT LINE INS GRP - UPDATE ON SHARE BUYBACK PROGRAMME.DIRECT LINE INSURANCE GROUP PLC - SUSPENDING ITS SHARE BUYBACK PROGRAMME AS A RESULT OF VOLATILE CONDITIONS ARISING FROM COVID-19 PANDEMIC.DIRECT LINE INSURANCE - "DIRECT LINE CAPITAL POSITION REMAINS STRONG, AND SOLVENCY HAS MOVED AS EXPECTED IN LINE WITH OUR SENSITIVITY ANALYSIS".DIRECT LINE INSURANCE GROUP PLC - SEEK TO PRESERVE GROUP'S STRONG BALANCE SHEET DURING THIS PERIOD OF HEIGHTENED UNCERTAINTY.DIRECT LINE INSURANCE GROUP PLC - GROUP ESTIMATES A STRONG SOLVENCY CAPITAL RATIO OF 163% ON 18 MARCH 2020.DIRECT LINE INSURANCE GROUP PLC - ANTICIPATES CLAIMS TRENDS ACROSS ITS DIVERSIFIED BUSINESS LINES TO DIFFER DURING PERIOD AFFECTED BY COVID-19.DIRECT LINE INSURANCE GROUP PLC - WITHIN MOTOR GROUP ANTICIPATES LOWER MOTOR CLAIMS FREQUENCY IN SHORT TERM.DIRECT LINE - INCREASE IN CLAIMS AFTER TRAVEL RESTRICTIONS IMPOSED IS EXPECTED, ALTHOUGH IT IS TOO EARLY TO ESTIMATE POTENTIAL IMPACT.DIRECT LINE - TO TERMINATE CURRENT SHARE REPURCHASE MANDATE RELATING TO BUYING BACK DLG'S SHARES FOR MAXIMUM CONSIDERATION OF UP TO £150 MILLION.  Full Article

Direct Line Says Chairman Mike Biggs Would Step Down In 2020
Tuesday, 3 Mar 2020 

March 3 (Reuters) - Direct Line Insurance Group PLC ::DIRECT LINE INS GRP - DIRECT LINE GROUP CHAIRMAN SUCCESSION.DIRECT LINE INSURANCE - MIKE BIGGS, CHAIRMAN OF DIRECT LINE INSURANCE GROUP PLC SINCE APRIL 2012, HAS INFORMED BOARD OF HIS INTENTION TO STEP DOWN.MIKE BIGGS WILL STAND FOR RE-ELECTION AT COMPANY'S AGM IN MAY 2020.  Full Article

Direct Line Insurance FY Pretax Profit Fell 12.2% To 509.7 Mln Stg
Tuesday, 3 Mar 2020 

March 3 (Reuters) - Direct Line Insurance Group PLC ::FY PRETAX PROFIT FELL 12.2 PERCENT TO 509.7 MILLION STG.DIRECT LINE INSURANCE - COST REDUCTIONS AND MODEL OF DISCIPLINED UNDERWRITING HELPED MAINTAIN A COMBINED OPERATING RATIO OF 92.2% IN FY.PROPOSED FINAL ORDINARY DIVIDEND OF 14.4 PENCE.ANNOUNCING A £150 MILLION SHARE BUYBACK AND AWARDING OUR PEOPLE £500 OF FREE SHARES EACH.FY GROSS WRITTEN PREMIUM 3,203.1 MILLION STG VERSUS 3,211.9 MILLION STG AS REPORTED A YEAR EARLIER.DIRECT LINE INSURANCE - REMAIN ON TRACK TO ACHIEVE OPERATIONAL AND FINANCIAL TARGETS OUTLINED AT CAPITAL MARKETS DAY.LAUNCH OF A SHARE BUYBACK OF UP TO £150 MILLION WHICH WE EXPECT TO COMPLETE BY END OF JULY 2020..CORONAVIRUS OUTBREAK HAS POTENTIAL TO IMPACT 2020 RESULT OF OUR TRAVEL BUSINESS."WE REMAIN ON TRACK TO ACHIEVE OPERATIONAL AND FINANCIAL TARGETS WE OUTLINED AT OUR CAPITAL MARKETS DAY".TARGETS A COMBINED OPERATING RATIO OF 93% TO 95% FOR 2020 AND OVER MEDIUM TERM, NORMALISED FOR WEATHER.WE HAVE TRAVEL REINSURANCE PROTECTION TO MITIGATE COST OF AN EVENT OVER A 28 DAY PERIOD TO £1 MILLION UP TO A LIMIT OF £10 MILLION.DIRECT LINE -BY 2021-END, AIM TO UP ANNUAL PROPORTIONATE CONTRIBUTION FROM CURRENT-YEAR OPERATING PROFIT TO MORE THAN HALF OF TOTAL OPERATING PROFIT.DIRECT LINE - TARGETING CUT IN OPERATING EXPENSES BY £50 MILLION BETWEEN 2018 & 2021, AIM TO IMPROVE OPERATING EXPENSE RATIO TO 20% BY 2023.DIRECT LINE - REITERATE ONGOING TARGET OF ACHIEVING AT LEAST A 15% RETURN ON TANGIBLE EQUITY PER ANNUM.  Full Article

Direct Line Insurance Group Is To Cut 800 Jobs - Sky News
Wednesday, 26 Feb 2020 

Feb 26 (Reuters) - :DIRECT LINE INSURANCE GROUP IS TO CUT 800 JOBS BY STREAMLINING ITS OPERATIONS ACROSS BRITAIN - SKY NEWS.  Full Article

Insurance losses from recent floods in England 110 mln stg-ABI
Wednesday, 27 Nov 2019 

Nov 27 (Reuters) - :* INSURANCE PAYOUTS TO PEOPLE HIT BY FLOODS IN CENTRAL, NORTHERN ENGLAND EXPECTED TO REACH 110 MILLION POUNDS- ASSOCIATION OF BRITISH INSURERS.  Full Article

Direct Line Says Does Not Cover Customers For Collapse Of Travel Agent, Tour Organiser, Booking Agent, Consolidator
Monday, 23 Sep 2019 

Sept 23 (Reuters) - Direct Line Insurance Group PLC ::DIRECT LINE, ON THOMAS COOK COLLAPSE, SAYS TRAVEL INSURANCE ARM DOES NOT COVER CUSTOMERS FOR THE FINANCIAL FAILURE OF ANY TRAVEL AGENT, TOUR ORGANISER.DIRECT LINE, ON THOMAS COOK COLLAPSE, SAYS TRAVEL INSURANCE ARM DOES NOT COVER CUSTOMERS FOR THE FINANCIAL FAILURE OF BOOKING AGENT OR CONSOLIDATOR.  Full Article

Direct Line Q1 Premiums Lower
Wednesday, 8 May 2019 

May 8 (Reuters) - Direct Line Insurance Group PLC ::TRADING UPDATE FOR THE FIRST QUARTER OF 2019.Q1 WAS CHARACTERISED BY SIGNIFICANT OPERATIONAL PROGRESS IN A TOUGH TRADING ENVIRONMENT.QTRLY GROSS WRITTEN PREMIUM 753.9 MILLION STG VERSUS 769.9 MILLION STG AS REPORTED A YEAR EARLIER.QTRLY MOTOR GROSS WRITTEN PREMIUM 386.9 MILLION STG VERSUS 404 MILLION STG AS REPORTED A YEAR EARLIER.MOTOR MARKET REMAINED HIGHLY COMPETITIVE, WITH MARKET PREMIUMS FAILING TO KEEP PACE WITH CLAIMS INFLATION IN QUARTER.OPERATIONAL DELIVERY ON TRACK.HOME MARKET HAS BEEN SLIGHTLY LESS CHALLENGING THAN MOTOR BUT REMAINED COMPETITIVE IN QUARTER.REMAIN ON TRACK TO ACHIEVE OUR 2019 OPERATING EXPENSES TARGET OF LESS THAN £700M.REITERATE OUR TARGET TO ACHIEVE A 93% TO 95% COMBINED OPERATING RATIO IN 2019 AND OVER MEDIUM TERM.MOTOR IN-FORCE POLICIES WERE FLAT QUARTER ON QUARTER AS GROUP'S PRICING INITIATIVES HELPED MITIGATE SOME OF PRESSURE.LOWER MOTOR AVERAGE PREMIUMS WERE PRIMARILY DUE TO REDUCED RISK MIX ARISING FROM THESE PRICING INITIATIVES IN QUARTER.  Full Article