Direct Line Group
Benign weather and rate rises result in record reported profits for insurers
Insurers have reaped the rewards of benign weather and rate rises in catastrophe hit regions, but analysts warn the worst could be yet to come.
Friend or Foe: Q&A with Accident Exchange CEO Steve Evans
Steve Evans has spent four years bringing the activities of rate surveyor Autofocus to light, making him an unpopular figure in insurance circles.
NFU and Ageas pay Accident Exchange undisclosed settlements
NFU Mutual and Ageas have reached settlement agreements with credit hirer Accident Exchange over their use of Autofocus evidence.
Geddes eyes imminent job function separation as RBS divestment gathers momentum
Direct Line Group chief executive Paul Geddes remains confident that group separation will be achieved on schedule after announcing that job functions at the business will be operating on a standalone basis by the summer.
DLG records steady Q1 improvement as separation 'progresses well'
Direct Line Group has increased its Q1 operating profit by 25% on the same period last year to £84m, thanks to prior year reserve releases and higher investment income.
Market moves: Liberty and Garwyn lead the pack
Insurer Liberty Mutual and loss adjuster Garwyn were the main movers and shakers this week, with LMI officially opening its new office in Leeds and recruiting four new members of staff.
Market divided as to favourability of current conditions for IPOs
Market players credited with an interest in launching initial public offerings inside the next two years have been warned against attempting to float amid unfavourable conditions, where value is at rock bottom.
Private bidder eyes up Direct Line Group
The FT has reported that Edi Truell's new bid vehicle Tungsten has made an informal expression of interest to buy Direct Line Group, which analysts estimate could sell for up to £4bn.
Helphire cuts debt as drop in hires slows
Helphire said in a trading update it had reduced net debt by £7.9m, from £132.4m to £124.5m, in the first three months of the year.
DLG prospectus reveals 2011 COR breakdown
The Direct Line Group has launched a prospectus geared towards tying up its proposed £500m planned subordinated debt issuance, in which it discloses last year's combined operating ratio for the insurer's various lines of business.
Spotlight On Technology: Future gadgets
Science fiction has given the people of today a glimpse of tomorrow. However, spare a thought for underwriters, for whom the prospect of insuring some of the space-age gadgets featured must strike real fear, as technology develops and turns science…
Spotlight On Technology: The developing world
With technological developments gathering pace, how will insurers cope with the influx of new gadgets and remain innovative?
ABI and credit hire firms establish working party for GTA portal
The Association of British Insurers and the credit hire industry have formed a working party to establish a general terms of agreement portal for road accident claims with hire charges.
Interview: Be Wiser chairman Mark Bower-Dyke - a convert to the cause
After joining the insurance industry for the money, Be Wiser chairman Mark Bower-Dyke shares his frustrations of short-termism and the lack of training, and explains why telematics is not the answer to the ills of the motor market.
Support for Direct Line Group's debt issuance plan 'delights' bosses
Direct Line Group bosses have expressed their "delight" after more than 40 financial institutions declared their support for the firm’s £500m planned subordinated debt issuance.
Transport Select Committee seeks to clear up transparency
The Transport Select Committee's reports on motor insurance have proved contentious, with calls for transparency not resonating with insurers. Will the 13th report clear things up?
Editor's comment: Setting course on uncertain seas
This week two of the UK's insurance powerhouses made announcements that, although very different in their nature, aimed to position the respective firms for the future.
Post magazine - 26 April 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
RSA boss Nightingale to take up reins as DLG network director
The Direct Line Group has named former RSA boss Paul Nightingale as director of network, fulfilment and supply chain, claims, starting in July.
Direct Line Group set to complete £500m planned subordinated debt issuance
Direct Line Insurance Group has announced it expects to complete a £500m issue of fixed/floating rate guaranteed subordinated notes due in 2042, and intends to seek a listing of the securities on the London Stock Exchange.
Direct Line and Helphire to resume fight over Autofocus evidence
Direct Line and Helphire are due back in court in June a month after the insurer objected to the credit hirer accessing information on Autofocus.
Brokers back potential DLG flotation citing interest in share options
NIG brokers have responded positively to the Direct Line Group split from RBS, some even raising the issue of potential share options if the group's mooted initial public offering bid is successful, the insurer has claimed.
Direct Line to support IPO by raising debt
Direct Line bosses are thought to be clearing the way to raise debt in order to achieve a £3.2bn IPO – making it one of the UK's biggest recent stock market listings.
My best 11: Martin Egan, Direct Line Group
Direct Line Group national manager for property insurance advisers Martin Egan selects his best XI for an insurance start-up. Egan has leant heavily on the stars of League One side Bury as well as colleagues from his firm. His one celebrity pick is…