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.
Direct Line Insurance Group
158.10p
15:44 15/11/24
-0.13%
-0.20p
FTSE 100
8,060.61
15:45 15/11/24
n/a
n/a
FTSE 350
4,453.56
15:45 15/11/24
n/a
n/a
FTSE All-Share
4,411.85
15:45 15/11/24
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Insurance (non-life)
3,498.62
15:45 15/11/24
-0.39%
-13.66
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.”