GWP grows for Direct Line
The insurer reports strong growth in motor but says operating profits are down following lower investment income.
GWP for Direct Line Group (DLG) grew to £1.6bn according to its results for the first half of 2016.
This represents an increase on the £1.5bn posted in H1 2015. However operating profits slipped to £316.9m (H1 2015: £333m) following, the insurer said, decreased investment income.
The number of in force policies fell to 15.7m from 16.1m in the same period last year. Profit before tax fell from £315m to £298.5m. The COR deteriorated 0.2 points to 89.6 percent (H1 2015: 89.4 percent).
Paul Geddes
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