Direct sales insurance 9-month adjusted gross premium income down 3.5%

(RTTNews) – Direct Line Insurance Group Plc (DLG.L) has reported group adjusted gross premiums written for the nine months of 2021 fell 3.5% from the previous year to £2.33 billion. Outside of Home and Motor, Green Flag direct has remained largely stable year-to-date, while Commercial has continued strong growth across all channels.

The company said group-wide deals were broadly in line with expectations given the challenging market environment for motors and homes, and continued strong growth in commercials.

Full year 2022 compound occupancy rate is now expected to be around 98% or 98% when normalized to weather, mainly due to a change in the recognition stage of reserve releases in the previous year, although underwriting results for the year remain in line with expectations It has been. moderately above.

The company said its outlook for 2023 and medium-term targets and dividend capacity remains unchanged.

The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.

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