Direct Line 3Q Gross Written Premiums Up 4.5%
November 08 2016 - 2:59AM
Dow Jones News
By Ian Walker
LONDON--Direct Line Insurance Group PLC (DLG.LN) Tuesday
reported a 4.5% rise in gross written premiums for the third
quarter of the year, and backed its combined operating ratio
guidance.
The company, which provides a range of insurance products, said
it still expects the combined operating ratio at the lower end of
the 93% to 95% range for the year, assuming a normal level of
weather claims. For the first half of the year the combined
operating ratio was 89.6%. The combined ratio is a measure of
profitability used by an insurance company to indicate how well it
is performing in its daily operations.
Gross written premiums in the third quarter rose to 882.9
million pounds ($1.1 billion), compared with GBP844.5 million for
the same period a year earlier, making GBP2.5 billion for the whole
nine months, up from GBP2.4 billion a year earlier.
Motor premiums, the company's largest area that covers nearly
half of the group total, rose 11% in the quarter to GBP431.5
million, taking the total for the nine months to GBP1.1
billion.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
November 08, 2016 02:44 ET (07:44 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Direct Line Insurance (LSE:DLG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Direct Line Insurance (LSE:DLG)
Historical Stock Chart
From Apr 2023 to Apr 2024
