May 2, 2018 / 6:30 AM / 5 months ago

Insurer Direct Line counts the cost of Britain's long, icy winter

May 2 (Reuters) - British motor and home insurer Direct Line Insurance Group reported a 5 percent fall in quarterly gross written premiums and said claims linked to Britain’s recent cold weather snap to utilise the company’s full annual weather budget.

Direct Line, whose brands include Churchill, Green Flag and Privilege, said claims associated with the snow and icy weather conditions in the first quarter were expected to be about 50 million pounds post tax.

Gross written premiums fell to 769.9 million pounds ($1.05 billion) in the first quarter from 810.3 million pounds, a year earlier, hurt by the company’s exit from partnerships with Nationwide and Sainsbury’s.

$1 = 0.7361 pounds Reporting by Radhika Rukmangadhan in Bengaluru, editing by Sinead Cruise

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