Direct Line Group
Former Prudential director joins Direct Line
Priscilla Vacassin has been appointed as a non-executive director of Direct Line Group.
DLG confirms intention to float
Direct Line Group has issued a statement confirming its intention to proceed with an initial public offering.
Market moves: High-profile changes at Allianz, Zurich and Towergate
The industry witnessed a number of major departures this week with Chris Hanks, Karl Bedlow and Nick Houghton leaving their roles at Allianz, Zurich and Towergate respectively.
DLG to offshore roles as part of £100m annual cost savings drive
Direct Line Group is set to offshore a "limited number" of chief operating office and sales, service and partnership roles as it begins to cut hundreds of UK jobs ahead of a planned flotation.
Groupama acquisition could propel Ageas UK into top 10 insurer spot
The insurance industry is considering the effect of consolidation and change in the UK personal lines market after Ageas entered into exclusive discussions with Groupama with a view to taking over its UK insurance company.
Post magazine - 13 September 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Tungsten evaluating Equity bid
The investment vehicle, helmed by Edmund Truell, is believed to be considering an offer for the IAG-owned insures.
RBS could float DLG tomorrow
RBS is to launch an initial public offering of Direct Line Group on Thursday, reports have suggested.
Truell eyes up motor insurers
Edmund Truell, founder of Duke Street Capital and Pension Corporation, has not ruled out a future bid for Royal Bank of Scotland's insurance arm, Direct Line.
Claims Club 10th anniversary: A decade of debate
The Post Claims Club will mark its 10th anniversary next year, and the group's advisory board looks back on a decade of change.
Direct Line Group posts 7% profit increase in first results as standalone
As the deadline for Direct Line Group's anticipated flotation approaches, the insurance business posted a 7% jump in operating profit to £224.2m for the first six months of the year and revealed it has set a target of 15% return on tangible equity.
Post magazine - 6 September 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Direct Line confirms redundancies
Direct Line Group has confirmed approximately 890 proposed redundancies across the business as part of a drive to cut costs by £100m.
Up to 900 roles at risk under £100m DLG cost-saving bid
Up to 900 roles are at risk at the Direct Line Group, with a full site closure of its Teeside office being proposed, Post understands, as it today reveals the scale of redundancies necessary to achieve its £100m cost savings target.
Miller non-exec joins Direct Line Group board
Clare Thompson, a non-executive director on Miller's partnership board, is to join Direct Line Group's board in a similar role.
DLG 'essentially' operating as a standalone business, claims Geddes
Direct Line Group chief executive Paul Geddes believes the business has "essentially achieved its goal" of operating as a standalone company, following the news it has set a return on tangible equity target of 15%.
Direct Line flotation is imminent
Direct Line Group's initial public offering could launch in a "matter of weeks".
DLG revamps claims management system
Direct Line Group has taken another step towards revamping its claims business by launching the next phase in its end-to-end claims management system.
Statement of Principles extension mooted as flood solution sticking plaster
Extending the Statement of Principles may have to be explored as a stopgap if discussions between industry and the government over a long-term flood risk solution rumble on, despite insurers insisting that they will not back down in this way.
Merlin clients and staff seek new homes after facilities firm quits takeover talks
After almost two decades in the insurance industry, loss adjuster Merlin Claims went into administration last week, arguably the victim of a private equity deal that saddled it with too much debt and a dwindling client list.
DLG claims transformation manager joins First Central fraud team
First Central has appointed former Direct Line Group claims transformation manager Chris Hallett to the role of operations manager at the firm's recently formed counter-fraud services team.
Geddes unmoved by PE takeover talk as DLG divestment date looms
Direct Line Group chief executive Paul Geddes has distanced himself from speculation linking the business with a private equity-backed divestment, insisting that his focus remains on securing a second-half public flotation.
DLG's £40m summer flood loss offset by reserve releases
Direct Line Group has reported home weather claims costs of £40m, conceding that losses were worse than expected but offset by "signficant" releases from reserves held against prior year claims across the portfolio.
RBS denies speculation of affinity split with DLG
The Royal Bank of Scotland has denied suggestions that UK Insurance will be stripped of its position as personal insurance provider for banking customers following the upcoming separation.