Direct Line Group
Purple swoops for NIG’s Bristol business development boss
Jelf-owned broker network Purple Partnership has recruited a new development manager from Direct Line Group subsidiary NIG.
One in five cyclists is invisible to motorists
Motorists fail to notice 22% of cyclists and 4% of jaywalkers, according to research by Direct Line.
Long-serving staff hardest hit by Aviva’s latest round of job cuts
Aviva staff face renewed uncertainty following the insurer’s decision to axe 2000 jobs globally, eight months after 800 jobs were put at risk.
View from the Top: Protect young drivers now
We need a combative strategy to reduce the risk of catastrophic accidents, says Tom Woolgrove, managing director of personal lines, Direct Line Group.
Insurers miss opportunity to voice opinions on EU consultation on PPOs
The UK’s general insurance sector has failed to engage with a consultation on setting Solvency II liability rules, despite a European Union recommendation that 20% of the sector should contribute for the study to be credible.
Increased shareholder scrutiny puts spotlight on insurance CEO pay
Insurers are more cautious and keen to be transparent over executive remuneration after last year’s ‘shareholder spring’, according to analysts, with recommendations for boss’s pay packets swelling in the past 12 months.
Facebook backer provides Hyperion ‘vital stepping stone’ towards IPO
An initial public offering is firmly back on the agenda at Hyperion after it struck a deal that sees public company investment specialist General Atlantic take a 30% stake in the international intermediary.
In Series: Personal Lines: The good old days
Insurers now benefit from data usage that allows them to tailor prices from hundreds of categories. But this wasn’t always the case.
Motor insurers vow to cut premiums if young driver claims come down
The insurance industry has promised the government young drivers’ premiums could go down by as much as 20% if new proposals succeed in reducing the frequency and value of motor insurance claims.
News Review: Winslow promoted in BGL reshuffle
Peter Winslow has been promoted to executive chairman of BGL Group and will be succeeded as chief executive by chief operating officer Matthew Donaldson, effective from 1 July.
ABI and DLG welcome young drivers green paper
The Association of British Insurers and Direct Line Group have welcomed the green paper launched by the government at the motor insurance summit meeting which they both attended.
DLG's Paul Geddes received £760 000 bonus in 2012
Paul Geddes, Direct Line Group chief executive, received a £760 000 bonus in remuneration for his performance during 2012.
RBS dismisses links between stock sale and timing of upcoming Esure float
The second tranche of Direct Line Group shares may have been rushed to market in order to get ahead of the float by Esure, according to analysts.
Plum role for Chubb's Madders
Household insurer Plum Underwriting has swooped to appoint a new senior technical underwriter in the shape of Chubb's Niall Madders.
RBS to reduce DLG stake to 49%
Royal Bank of Scotland is to place a second tranche of Direct Line Group shares on the stock market via an accelerated book build.
Former NIG sales boss Parry in Lothbury deal
NIG’s former UK sales director David has been recruited by independent broker Lothbury in a bid to target regional growth.
Success of Esure float boils down to accurate pricing in current market
Esure could err on the side of caution when it comes to pricing its stock as it aims to follow Direct Line Group onto the London Stock Exchange, analysts have suggested. The personal lines insurer confirmed plans to float as it revealed its 2011 result.
Improving Underwriting: Adding some colour
Larger amounts of more detailed data are available to insurers but can they create a balance between profitability and fair rates?
High Net Worth: Rich Pickings
With an increase in providers of high net worth insurance in recent years, wealthy customers have plenty to choose from. What can firms do to stand out from the crowd?
Claims Club Monthly Missive: Learning from Bethany Probert
It seems that barely a month passes without the industry suffering publicity bad enough to harm the reputation of an individual firm or, worse still, the entire industry.
DLG results “good progress” for 2014 commercial underwriting profit
A £2.2m operating profit for commercial lines has satisfied Direct Line Group’s management that the segment is closing in on a targeted underwriting profit in 2014.
DLG posts improved international COR after reserve releases
Direct Line Group saw a return to underwriting profit for the 2012 financial year as it posted a combined operating ratio of 99.2%.
DLG improves combined ratio to 99.2%
Direct Line Group has reported a 9.3% rise in operating profit for ongoing operations to £461.2m (2011: £421.9m) including an underwriting profit of £28.2m compared to a loss in 2011 of £72.3m and a combined operating ratio of 99.2% (2011: 101.8%).
Motor repairs: In need of repair
A recent investigation by Channel 4’s Dispatches slammed the motor insurance industry for its approach to repairs. Can the sector come back from the criticism?