Direct Line Group
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.
Damages uplift is ‘moot’ point for Direct Line Group IPO
Accountancy firm BDO has claimed the Direct Line Group floatation is unlikely to be affected by the Court of Appeal’s decision to stop personal injury claimants, who have entered a conditional fee arrangement before 1 April 2013, qualifying for a 10%…
Post magazine - 11 October 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
DLG shares attract surge in interest
Stockbrokers have reported a surge in interest in Direct Line Group shares ahead of its flotation tomorrow.
DLG to apply for alternative business structure
Direct Line Group is to make an application to have an alternative business structure later this year in a bid to boost customer choice.
DLG outlook "increasingly difficult", says analyst
The success of the first Direct Line Group float has failed to alleviate concerns over the long-term future of the company, according to Panmure Gordon.
Market moves: Hastings and Compare the Market bolster ranks with directorial appointments
Broker Hastings and BGL-owned aggregator Compare the Market were the busiest recruiters this week, both bringing in new directors.
Reports claim DLG has 'sold' 33% of IPO book
Direct Line Group has found buyers for the full 33% stock stake, just three days into a nine-day marketing drive, sources close to the transaction told Reuters.
Editor's comment: Motor madness drives on
Love it or hate it, the UK private car insurance market grabs all the industry's political airtime outside floods and hurricanes.