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
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
UK car insurance premiums see biggest annual fall in more than 10 years
For the fourth quarter in a row comprehensive car insurance premiums have dropped in price, according to the latest Confused and WTW research.
SMEs satisfaction with insurance ended 2024 on a high – CII
Overall SME satisfaction with insurers rose to 83% in the final quarter of last year, according to data released by the Chartered Insurance Institute.
Commercial Express adds Irwell to panel of insurers
Managing general agent Commercial Express has partnered with Irwell Insurance which has joined its panel of insurers.
Aviva continues regional push with five underwriting hires
Aviva has revealed five underwriting hires across the South West and Wales region as it continues its regional push.
People Moves: 2 – 10 January 2025
Follow the latest insurance personnel moves.
Ecclesiastical recruits Medlicott as UK casualty director
Ecclesiastical Insurance has appointed James Medlicott as UK casualty director, joining in March from HDI Global where he was director for liability underwriting.
Lloyd’s CEO Neal to leave for new role at Aon
Lloyd’s has announced that CEO John Neal will be leaving in 2025 to join Aon as its global CEO of reinsurance and global chairman of climate solutions.
Ex-Axa COO Vasudeva returns to Hiscox
Hiscox has named Shali Vasudeva as group chief operations and technology officer, returning to the insurer after leaving for Axa in 2019.