Direct Line Group reaffirms full-year guidance

Direct Line Group, the insurer, saw gross written premiums slip by 0.9% over the first quarter ended in 31 March.

However, total costs were 10.1% lower to £220.7m and on track to fall in absolute terms over 2015.

Gross written premiums in Motor were stable, the company said. Motor and Home in-force policies were also described as being stable for a second successive quarter.

The firm reiterated guidance for a full-year combined operating ratio of between 94% to 96% after normalising for claims from major weather events.

Company chief Paul Geddes added the firm is well positioned “to meet its 2015 financial objectives.”