DLG sees profits rise as UK motor GWP takes a hit
Direct Line Group has reported a combined operating ratio (COR) of 98% for the first quarter of 2013, a 6.5% improvement on the COR posted in Q1 2012.
The provider also reported an improved profit after tax, at £71.6m for the first quarter, up from £56.7m in the same period of last year.
However, gross written premium (GWP) dropped by just over £45m to £1.005bn.
The insurer said reductions in UK personal lines were partially offset by growth in its international division.
Within the company’s motor division, GWP fell by 14.3%. This was attributed to a reduction in in-force policies as the group held prices in a competitive market.
The provider
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