Gross written premiums rise at Direct Line

motor and home insurer Direct Line Insurance Group reported a 4.2 per cent rise in gross written premiums in the first quarter, boosted by strong performance in its motoring business.

By The Newsroom

Published 3rd May 2017, 09:01 BST

Updated 9th May 2017, 18:26 BST

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.

However, 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.”