Direct Line Group
Market Moves - 4 September 2014
All the latest job moves in the insurance market.
Pulp Fiction’s Harvey Keitel fronts Direct Line campaign
Hollywood star Harvey Keitel is leading a new advertising campaign for Direct Line, reprising his role from Quentin Tarantino’s Pulp Fiction.
DLG names Dixons Carphone boss as non-exec
Direct Line Group has recruited the group chief executive of Dixons Carphone to serve as a non-executive director.
DLG likely to win promotion to FTSE 100
Direct Line Group could win promotion to the FTSE 100 in the next quarterly reshuffle with drink can maker Rexam and construction firm Barratt Developments at risk of dropping out of the London Stock Exchange’s top tier.
Analysts criticise insurers’ use of reserve releases for distorting H1 results picture
Admiral boss Engelhardt calls focus on reserves in financial reporting ‘bizarre’
ABI gets industry backing after L&G’s decision to withdraw membership
Trade body tight-lipped on whether L&G exit will impact membership fees.
ITV HR director Linares to take on identical role at DLG
Direct Line Group has appointed ITV’s group director for human resources Simon Linares as HR director.
C-Suite - Insurer: Still much more to do
Whiplash reforms can – and should – be broadened to other types of injury.
Post Blog: Five reasons why Admiral and Insure the Box make good bed fellows
Earlier this week Postonline revealed Admiral was weighing up a bid for the UK’s leading telematics player Insure the Box.
More pain predicted for motor market as regulation rears its head
Listed insurers Esure, Admiral and Direct Line Group are expected to fare better than most as the motor market enters the toughest part of the underwriting cycle, according to a note published by Berenberg.
Sale of DLG's international units not set in stone, claims Geddes
Direct Line Group chief executive Paul Geddes has denied the sale of the insurer's Italian and German operations is a foregone conclusion, despite talks on offloading the international divisions gathering momentum.
DLG sees profit drop from high weather claims
Direct Line Group has attributed a 13.1% drop in operating profit for the first half of 2014 to higher weather claims and lower prior-year reserve releases.
Flood Re cap will not limit scheme's ability to pay out, claims ABI
The Association of British Insurers has criticised ratings agency Moody's for its report on the regulatory arrangements for Flood Re saying its £100m cap will have no impact on the scheme's ability to pay flood claims to insurers.
Moody's warns of negative credit impact from Flood Re funding proposals
Moody's has deemed the £100m cap on government contributions to Flood Re credit negative for UK property and casualty insurers.
Add ons review ‘gloomy reading’ for motor insurers
A regulatory review of the sale of general insurance add ons makes for “gloomy reading” for insurers including Direct Line, Esure and Admiral according to one analyst.
UK motor market not seeing 'sustained recovery in prices'
Despite investor hopes of a hardening market for UK motor, no insurer is making the level of losses needed to spark “a sustained recovery in prices”, according to research from Exane BNP Paribas.
Homeowners fail to report crimes amid fear of impacting property values
Crime is going unreported in neighborhoods across Britain as the fear of impacting the rent or resale value of properties forces residents to keep silent, a new study from Direct Line has shown.
DLG seeks action on PCWs' ranking of monthly premiums
Direct Line Group is calling for greater clarity around the way price comparison websites rank premiums when a consumer has opted to pay monthly.
Motor sector faces fresh scrutiny for failings over premium payment options
Customers offered monthly payment by default despite choosing to pay yearly
DLG reportedly in ‘advanced talks’ over German and Italian disposals
Direct Line Group is in advanced negotiations over the sale of its operations in Germany and Italy according a report from Reuters.
DLG agrees equity investment in telematics firm The Floow
Direct Line Group has completed a 15% equity investment in specialist UK based telematics provider The Floow.
Government to reform laws on London short-term letting
Research from Direct Line's select premier insurance shows London homeowners could earn an average of £116 per room once legislative changes making short-term letting easier come into force.
Interview: Edmund Truell: This man means business
With a career spanning the length and breadth of financial services, Edmund Truell is now muscling into the telematics sector. Post meets a man who speaks his mind about the insurance industry – and, according to him, it’s not all a bed of roses
Motor rate reductions to end in 2015 say analysts
Motor insurance rates will steadily increase next year after nine successive quarters of reductions according to analysts from Oriel Securities.