Insurer Direct Line set for £44m coronavirus hit to travel claims May 6, 2020 Insurer Direct Line is expecting to take a £44m hit to its travel business from the coronavirus crisis, the company said today, with claims set to fall by 70 per cent. The firm also said it expected to incur £70m in costs from measures to protect its customers, such as providing all NHS workers with [...]
Insurance: Hiscox, Aviva, RSA and Direct Line suspend dividends following Bank of England pressure April 8, 2020 Insurance companies Hiscox, RSA, Aviva and Direct Line have this morning announced the suspension of their dividends after regulatory pressure from the Bank of England. Sam Woods, deputy governor of the Bank’s Prudential Regulatory Authority wrote to chief executives of major insurers on 31 March asking them to “pay close attention to the need to [...]
Mentoring critical to having more FTSE female board members, say women on boards March 24, 2015 As a government report points to a more than doubling of women on FTSE boards, three women give the lowdown on life in the boardroom, and how more women can get there. Anne Richards Anne Richards had “wandered through life not really worrying about the gender mix of a board”. However, the chief investment officer [...]
Direct Line CEO gets £2m raise March 24, 2015 Insurance boss Paul Geddes has been granted a pay rise of more than £2m – up from £2.54m in 2013 to £4.62m last year. The Direct Line Group (DLG) chief executive’s pay was revealed in the company’s final results yesterday, which showed pre-tax profits jumped by 12.2 per cent from £407.3m to £456.8m in 2014. [...]
Direct Line boosts dividend as it meets all IPO targets – but warns of “competitive” market March 3, 2015 Direct Line has increased its dividend despite operating profits falling for the last calendar year. The figures It was broadly positive for the insurance group. Operating profits fell from £509m to £506m in 2014, but everything else was on the up: Group statutory pre-tax profit rose 12.2 per cent to £456.8m and final [...]
£430m sale by Direct Line to boost investors September 25, 2014 INSURANCE group Direct Line announced yesterday it had agreed to sell its international division to major Spanish insurance firm Mapfre for €550m (£430.5m) FTSE 100-listed Direct Line said the sale of its international division, comprising its German and Italian businesses, would lead to a pre-tax gain of around £160m from the sale. Direct Line said [...]
Direct Line set to join FTSE 100 as Barratt slides down the list September 2, 2014 Insurer Direct Line looks set to join the coveted FTSE 100 listing this week alongside newcomer Dixons Carphone, as the FTSE committee conducts its quarterly review. The changes are likely to be announced later today and could also see homebuilder Barratt demoted out of the top 100 blue chip companies. The developer only joined the [...]
Quindell Portfolio shares jump on £150m deal with Direct Line October 9, 2013 SHARES in outsourcing group Quindell Portfolio yesterday jumped 10 per cent after the company announced a £150m three-year deal with Direct Line. The company also said it is on track to record annual organic revenue growth of £300m a year. Aim-listed Quindell provides outsourcing services to insurers, with a pledge to drive costs and increasing [...]
Chesnara buys closed life fund from Direct Line October 8, 2013 INSURANCE-focused takeover specialist Chesnara said it would buy Direct Line’s domestic closed life insurance business for about £39.3m in cash. Chesnara, which has been looking to acquire life insurance funds in Western Europe for the past year, said the deal would be partly financed by a new loan facility of £73.8m from the Royal Bank [...]