Direct Line Group
Insurers await outcome of 'dishonest' evidence appeal in Axa case
Several insurers are awaiting a Court of Appeal decision on Axa's use of allegedly "false" Autofocus evidence before potentially resuming out-of-court negotiations with Accident Exchange.
Motor insurance market reviews plans ahead of legislation and slowdown
Direct Line Group is primed to "execute a range of strategies" depending on how changes to the legal landscape play out next spring, according to the insurer's chief executive Paul Geddes.
Editor's comment: Testing our mettle
US voters were still heading to the polls as Post went to press. But with many north eastern states operating makeshift polling stations and still without electricity a week after superstorm Sandy made landfall, the closely fought election was shaping up…
Helphire engaging with DLG and RSA on Autofocus evidence
Helphire has indicated that a number of insurers are keen to reach settlements with the firm over the use of "dishonest" Autofocus evidence as the company reaches a deal with RSA and Direct Line Group on access to information on the rate surveyor.
Privilege, Swiftcover and Tesco to benefit from gender directive
The three insurers' motor policies have been named as the most likely to be recommended by women, according to research by independent insurance analyst Consumer Intelligence.
DLG Q3 combined ratio improves to 96.9%
Direct Line Group has reported a 4% slide in operating profit from ongoing operations for the third quarter 2012 of £123.7m compared with the same period in 2011.
Directors lose out as DLG axe falls on senior team
NIG sales and distribution director Dave Parry is among the highest profile figures to exit Direct Line Group amid fresh redundancies as the group targets £100m in gross annual savings by the end of 2014.
Post magazine - 1 November 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Haste appointed Lloyd's deputy chairman
Former RSA chief executive Andy Haste has been unveiled as Lloyd's' new deputy chairman for a three-year term from 1 November.
Parry exits NIG amid restructure
Direct Line Group has confirmed the departure of sales and distribution director Dave Parry amid changes to the management structure at NIG.
DLG to axe 70 leadership roles
Direct Line Group is to scrap 70 senior leadership roles across the business as part of the next phase of a programme to achieve £100m in gross annual cost savings by the end of 2014.
Post magazine - 25 October 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
DLG to axe 100 IT roles as part of annual cost savings plan
Direct Line Group has confirmed that approximately 100 jobs will be lost across its IT function, as the firm's £100m annual cost savings drive begins to take effect.
Redundancies and recruitment: Not the end of the line
On the surface, a spate of job losses in the insurance sector could hamper its growth and recovery. But opportunities still exist.
Fitzmaurice says Hastings will bed down initiatives before potential float
Incoming Hastings Insurance Group chief executive Gary Hoffman has said his experience leading financial services companies such as Barclaycard, Northern Rock and the start-up NBNK will bring a "broader perspective" to the intermediary business as the…
DLG enlarges initial share offering
Direct Line Group parent Royal Bank of Scotland is to expand its initial public offering of ordinary shares.
Post magazine - 18 October 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Institutional investors testing the waters as Direct Line Group floats
Some institutional investors are taking a 'suck it and see' approach to the Direct Line Group float, assessing how issues facing the motor insurance sector affect the firm's share price before taking a slice for themselves, according to analysts.
DLG shares enter unconditional trading
Direct Line Group's share capital of 1.5 billion shares has been admitted to the official list of the UK Listing Authority today.
UK Insurance rating remains stable after DLG IPO
Direct Line Group's UK Insurance is unlikely to see its Moody's A2 insurance financial strength rating change despite the insurer revealing the price of its initial public offering of ordinary shares.
DLG "transformation" sees shares oversubscribed, says Geddes
Direct Line Group chief executive Paul Geddes has described the 175p share price as "bang on" after trading began on the London Stock Exchange this morning.
DLG trading begins at 175p a share
Direct Line Group shares with an offer price of 175p have begun trading this morning on the London Stock Exchange.
Industry fears homeowner panic as flood agreement expiration approaches
Brokers in high flood-risk areas have accused the Association of British Insurers of failing to "nail its colours to the mast" amid growing concern over the lack of a long-term replacement for the Statement of Principles.
Analysts sceptical over reported success of RBS' Direct Line Group float
Analysts have expressed scepticism at the professed success of the Direct Line Group float, after reports that the insurer’s parent, Royal Bank of Scotland, found buyers for the full 33% of stock available within three days of its initial marketing drive.