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
193.50p
16:40 19/04/24
0.00%
0.00p
FTSE 100
7,895.85
16:59 19/04/24
n/a
n/a
FTSE 350
4,341.08
17:09 19/04/24
n/a
n/a
FTSE All-Share
4,296.41
17:08 19/04/24
n/a
n/a
Insurance (non-life)
3,637.32
17:09 19/04/24
0.23%
8.19
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.”