Half Year Results 

Direct Line battles rate pressure

Direct Line battles rate pressure

Lower investment returns and efforts to strengthen reserves pulled Direct Line’s (DLG) operating profit down a tenth during the first half of 2019, offsetting the benefits of more benign weather conditions and reduced operating expenses. The insurer also booked a £17m charge for the reduction in the Ogden rate – used to calculate how much compensation accident victims should receive – to -0.25 per cent, which added 1.1 percentage points to the combined operating ratio.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now