Direct Line Group
CMA launches Aviva/DLG merger inquiry
The Competition and Markets Authority has today announced the launch of a merger inquiry into the Aviva/Direct Line Group deal.
Aviva scores double-digit UK profit and volume growth in 2024
Aviva has posted 16% UK gross written premium growth in 2024, as its combined operating ratio improved to 94.9%.
Direct Line accepts Aviva’s £3.7bn takeover offer
Direct Line has accepted Aviva’s improved offer to takeover the company this morning in a deal one analyst has described as a "bold move that could turn out to be a gift that keeps on giving".
Aviva-target DLG launches on Compare the Market
Aviva takeover target Direct Line Group has launched three new branded motor insurance products on Compare the Market, marking its entry on to price comparison websites.
Somerset Bridge and DLG breach Private Motor Insurance Order
Somerset Bridge and Direct Line Group have both received a letter from the Competition and Markets Authority for breaches of the Private Motor Insurance Market Investigation Order 2015.
Brokers urge Aviva not to let DLG deal dull service
Brokers have hailed the ongoing improvements at Aviva and called on the provider not to be knocked off course in the regional market should the Direct Line Group takeover complete as expected.
Aviva has hit ‘strategic jackpot’ with £3.6bn DLG deal agreement, claims analyst
An analyst at investment firm Hargreaves Lansdown has described Aviva’s £3.6bn bid as a “golden ticket” for Direct Line Group shareholders.
Aviva has Xmas deadline for DLG offer after both agree prospective £3.6bn deal
Aviva and Direct Line Group have jointly announced that they have reached preliminary agreement on the financial terms of a potential acquisition of the latter by the former.
Review of the year 2024: Brown & Brown’s Sime
Chris Sime, group markets director at Brown & Brown Europe, predicts a UK consolidator could get taken out by a US broker, wonders why buyers continue to pay multiples on unrealistic Ebitda projections and mulls what a Blanc/Winslow reunion might look…
Analysis: Aviva’s bid for DLG – what are the pros and cons for UK insurance brokers
The industry was abuzz last week with the ramifications of Aviva’s £3.3bn bid for Direct Line Group. Jonathan Swift reflects on the weekend’s developments, and what the deal might mean for UK brokers should the possibility of a green light gain momentum…
Analysts point to 265p per share to sweeten Aviva-DLG deal
Experts from Peel Hunt have labelled Aviva’s 250p per share approach for Direct Line as a “reasonable offer” adding there is “scope to sweeten the bid to 260-265p”.
DLG rejects £3.3bn Aviva takeover offer
Aviva has revealed it has become the second insurer to publicly bid for Direct Line Group this year, with an offer worth £3.3bn.
DLG to cut 550 jobs as it targets £100m of savings
Direct Line Group has started consultations with staff as part of a proposed reduction of about 550 roles, it announced today.
Saga confirms talks with Ageas over insurance “partnership”
Saga has today confirmed it is in discussions with Ageas with “regard to a potential partnership arrangement for its insurance business”.
Ex-Esure, L&G and Direct Line boss Peter Graham joins Markerstudy
Former CEO of Esure Peter Graham has been appointed as non-executive chairman (designate) of Markerstudy Insurance Services.
Ex-Aviva CEO Winslow raids former employer again
Direct Line Group has named Maz Bown as group chief risk officer, subject to regulatory approval, joining from Aviva where she was chief risk officer, UK General Insurance and Health.
Direct Line confirms Milliner to lead on claims in raft of management changes
Direct Line Group has confirmed the appointment of Martin Milliner as managing director of claims, as revealed earlier this week by Insurance Age.
LV claims director Milliner tipped for DLG role after exit
LV GI claims director Martin Milliner is to leave the insurer he joined in 2006, Insurance Age can reveal.
Winslow reunited with Aviva CFO Poole at DLG
Direct Line Group has appointed Jane Poole as group chief financial officer of the company, subject to regulatory approval.
Ageas ends DLG takeover plans after two rejections
After being rebuffed twice, Ageas has ended its pursuit of Direct Line Group, having valued the business at over £3.1bn.
Takeover target Direct Line posts £189m operating loss
Direct Line Group has revealed a £189.5m loss from ongoing operations as the sale of NIG pushed the insurer into profit for 2023.