Direct Line's soaring profits, dividends, and the real reason you're paying all-time-high motor insurance premiums
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Direct Line’s results, which show a 9.5 per cent increase in operating profits to £354.2m, add weight to my argument. But here’s what Direct Line had to say on the subject in its results statement: “Detailed case reviews conducted in Q2 of the additional costs arising from the lowering of the Ogden discount rate indicated a lower than expected increase to claims costs. Here are some more figures from its statement that you might like to consider: Direct Line’s motor insurance loss ratio improved from 84.6 per cent in the first half of 2016 to 81.7 per cent in the first half of 2017. My argument a couple of weeks ago was rather that, despite Direct Line’s past activities, the insurance market is not competitive enough to keep prices down.
History of this topic
Aviva and Direct Line agree £3.7bn insurance tie-up
The Independent
Direct Line car insurance available on a price comparison site for the first time
Daily Mail
Direct Line backs £3.6bn takeover move by rival Aviva
The Independent
Direct Line founder Sir Peter Wood says Aviva must raise its offer
Daily Mail
Direct Line shares surge as insurer rejects Aviva's £3.3bn takeover bid
Daily Mail
Direct Line shares surge after insurer rejects £3.3bn Aviva takeover tilt
The Independent
Blanc scores a Direct hit: Aviva boss's swoop on rival should not come as a huge surprise, says ALEX BRUMMER
Daily Mail
Direct Line sheds motor cover customers after price hikes
The Independent
Direct Line targets £100m yearly savings as it accelerates digital shift
The Independent
Direct Line may be the tip of an iceberg of over-charging insurers, says JEFF PRESTRIDGE
Daily Mail
Couple’s outrage as car insurance hiked 90%: ‘Trying to mug me when I wasn’t looking’
The Independent
Direct Line becomes latest to warn over hit from rising cost of claims
The Independent
Direct Line's stunning results explain why your insurance premiums are so high
The Independent
UK insurance stocks slide on Government's new rules on personal injury claims
The Independent
Royal Bank of Scotland set to float Direct Line Group insurance arm
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