Direct Line Group reiterates forecast for 2015 combined operating ratio

Direct Line Group posted a 3.1% increase in total written gross premiums for the three months to 30 September, led by a 6.8% increase in Motor.

That came alongside a 7% drop in total costs for ongoing operations, while investment income yield rose to 2.4%.

For the nine months to 30 September total gross written premiums were up by 1.3%.

The insurer reiterated its expectations for a full-year 2015 combined operating ratio of between 92% to 94% after normalising for major weather events.

Underlying trends remained broadly in line with previous expectations for a combined operating ratio of between 94% to 96%.

Paul Geddes, CEO of Direct Line Group, commented: "Our strategy is progressing well and we continue to see the benefits of our programmes to improve customer experience and differentiate our brands, with a strong performance in Motor helping us deliver overall growth in our gross written premium.

"At the same time, we have also realised further efficiencies throughout the business, with costs reducing 7.0% compared to the first nine months of last year."