'Unknown impact' of discount rate cut to hit later in the year
Direct Line expects the "unknown impact" of the government's decision to cut the Ogden Discount rate to be felt later in the year when reinsurance costs are renegotiated.
Despite a strong overall 2016 performance, Direct Line saw a 30% drop in profits as a result of the Lord Chancellor's decision to cut the Ogden discount rate from 2.15% to negative 0.75%
Paul Geddes
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