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United Kingdom

Direct Line Insurance Group PLC (DLGD.L)

DLGD.L on London Stock Exchange

324.00GBp
14 Nov 2018
Change (% chg)

-0.10 (-0.03%)
Prev Close
324.10
Open
318.70
Day's High
326.60
Day's Low
316.30
Volume
6,117,575
Avg. Vol
4,280,469
52-wk High
397.00
52-wk Low
307.80

Latest Key Developments (Source: Significant Developments)

Direct Line Insurance Says Cold Weather Hurts Profit
Wednesday, 1 Aug 2018 

Aug 1 (Reuters) - Direct Line Insurance Group PLC ::INTERIM DIVIDEND 7 PENCE PER SHARE.H1 GROSS WRITTEN PREMIUM 1,610.3 MILLION STG VERSUS 1,694 MILLION STG YEAR AGO.STRATEGIC PROGRESS ON TRACK.H1 COMBINED OPERATING RATIO 93 PERCENT VERSUS 88.6 PERCENT YEAR AGO.H1 OPERATING PROFIT 303.1 MILLION STG VERSUS 359.7 MILLION STG YEAR AGO.H1 SOLVENCY CAPITAL RATIO POST-DIVIDEND - ESTIMATED 169% VERSUS 165%.MOTOR DIVISION GREW IN-FORCE POLICES 2.1% IN YEAR TO 4.0 MILLION AND PREMIUMS GREW 1.9% TO £839.8 MILLION IN H1.REITERATE OUR FINANCIAL TARGETS.HY UNDERWRITING PROFIT FELL TO £108.6 MILLION PREDOMINANTLY DUE TO £75 MILLION OF WEATHER CLAIMS MAINLY ASSOCIATED WITH MAJOR FREEZE IN Q1 2018.PREMIUM RATES CONTINUED TO FALL Q-ON-Q, ADJUSTING RATIONALLY TO GOVERNMENT'S PROPOSALS TO REVISE PROCESS FOR SETTING OGDEN DISCOUNT RATE.MINDFUL OF DELAY TO GOVERNMENT'S WHIPLASH PROPOSALS, NOW EXPECTED TO TAKE EFFECT IN APRIL 2020, 12 MONTHS LATER THAN PREVIOUSLY INDICATED.FOR 2018, GROUP EXPECTS TOTAL INVESTMENT RETURN IN REGION OF £150 MILLION.REITERATION OF 2018 CURRENT FINANCIAL TARGETS AND OVER MEDIUM TERM OF ACHIEVING COMBINED OPERATING RATIO IN RANGE OF 93% TO 95%.  Full Article

Direct Line Insurance Completes Capital Management Exercises​
Friday, 8 Dec 2017 

Dec 8 (Reuters) - Direct Line Insurance Group Plc ::ANNOUNCES SUCCESSFUL COMPLETION OF CAPITAL MANAGEMENT EXERCISES​.‍TENDER OFFER RESULTED IN REPURCHASE OF £250M NOMINAL OF TIER 2 DEBT AT A VALUE OF C.£327M BEFORE ACCRUED INTEREST​.‍REMAINING £250M (NOMINAL) HAS A FIRST CALL DATE OF 27 APRIL 2022​.‍NET RESULT OF THESE TRANSACTIONS WILL BE AN IFRS POST-TAX CHARGE FOR YEAR ENDING 31 DECEMBER 2017 OF CIRCA £53M​.‍PRE-TAX CHARGE WILL BE TAKEN PRIMARILY THROUGH 'FINANCE COSTS' LINE OF GROUP INCOME STATEMENT​.‍TRANSACTIONS BENEFIT SOLVENCY CAPITAL REQUIREMENT COVERAGE RATIO BY CIRCA 2PPT.THERE WILL BE NO MATERIAL IMPACT ON GROUP'S DIVIDEND CAPACITY AS A RESULT OF TRANSACTIONS​.  Full Article

Direct Line Insurance says 9-month gross written premium up by 4.2 pct to 2.60 bln pounds
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - DIRECT LINE INSURANCE GROUP PLC ::TOTAL IN-FORCE POLICIES HAVE INCREASED BY 0.2% SINCE 30 SEPTEMBER 2016​.‍9-MONTH GROSS WRITTEN PREMIUM OF £2,601.4M INCREASED BY 4.2% COMPARED WITH FIRST NINE MONTHS OF 2016​.‍MOTOR, COMMERCIAL AND RESCUE BUSINESSES CONTINUED TO TRADE WELL IN QUARTER​.IN 2017 CO EXPECTS TO DELIVER COMBINED OPERATING RATIO AROUND MIDDLE OF TARGET RANGE OF 93% TO 95%.‍ON CLAIMS, DAMAGE SEVERITY REMAINED AT ELEVATED LEVELS, WHILE FREQUENCY SO FAR THIS YEAR HAS BEEN BETTER THAN EXPECTED.‍IN LINE WITH GROUP'S PREVIOUSLY STATED TARGETS, FY BUSINESS AS USUAL EXPENSE RATIO IS EXPECTED TO BE LOWER THAN 2016.‍GROUP NOW EXPECTS TO ACHIEVE 2.5% INVESTMENT INCOME YIELD IN 2017 VERSUS PREVIOUS EXPECTATION OF 2.4% INVESTMENT INCOME YIELD​.  Full Article

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FTSE capitulates to stronger pound, U.S. election nerves

MILAN/LONDON Britain's blue chip share index was lower on Tuesday as the pound strengthened amid renewed optimism over a Brexit deal while investors took risk off the table as Americans went to the polls in midterm elections.