Direct Line Group posts 7% profit increase in first results as standalone
As the deadline for Direct Line Group's anticipated flotation approaches, the insurance business posted a 7% jump in operating profit to £224.2m for the first six months of the year and revealed it has set a target of 15% return on tangible equity.
In its first set of interim results as a standalone business, DLG reported that in-force policy numbers rose 4% to 20.1 million in H1 2012, with an RoTE of 10.2% (H1 2011: 10.0%).
The combined ratio
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