Gross written premiums rise at Direct Line
The insurer, whose brands include Churchill, Green Flag and Privilege, said gross written premiums rose to £810m.
Direct Line said it will continue to target a 2017 combined operating ratio in a 93-95 per cent range for continuing operations. Combined ratio is a measure of underwriting profitability in which a level below 100 per cent indicates a profit.
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Hide AdHowever, performance in home insurance was “challenging”, Direct Line said, due to a rise in claims costs.
Paul Geddes, CEO of Direct Line Group, said: “Overall, I am pleased with the positive start we have made to the year, continuing the momentum we built in 2016 and supported by continued strong growth in the Direct Line brand.
“We have delivered particularly strong results in Motor and this performance has more than offset the challenging home market. Direct Line for Business and Green Flag have also performed well.”