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Direct Line Group Interim Management Statement for the first nine months of 2015

  • Expand all
  • Collaspe all
  • Gross written premium for ongoing operations1 up 1.3% for the first nine months with 4.1% growth in Motor partially offset by Home, and for the third quarter up 3.1% with 6.8% growth in Motor
  • Motor own brands in-force policies increased by 0.8% in the first nine months of 2015, while Home own brands in-force policies were stable
  • Continued investment in customer propositions, with the inclusion of guaranteed hire car in all Direct Line comprehensive motor policies. This builds on the seven day car repair service and the removal of amendment fees for all Direct Line branded products
  • Total costs2 for ongoing operations reduced by 7.0%, while investment income yield increased to 2.4%, in comparison to the first nine months of 2014
  • Reiterate expectation to achieve a 2015 combined operating ratio3 in the range of 92% to 94% for ongoing operations after normalising for claims from major weather events. Underlying trends remain broadly in line with prior expectations of a combined operating ratio in the range of 94% to 96%


  1. Ongoing operations comprise Direct Line Group’s ongoing divisions: Motor, Home, Rescue and other personal lines and Commercial. It excludes discontinued operations, the Run-off segment and restructuring and other one-off costs.
  2. Total costs include operating expenses and claims handling expenses.
  3. Combined operating ratio is the sum of the loss, commission and expense ratios. The ratio is a measure of the amount of claims costs, commission and expenses compared to net earned premium generated.
CEO comment

Paul Geddes, CEO of Direct Line Group, commented

“Our strategy is progressing well and we continue to see the benefits of our programmes to improve customer experience and differentiate our brands, with a strong performance in Motor helping us deliver overall growth in our gross written premium. At the same time, we have also realised further efficiencies throughout the business, with costs reducing 7.0% compared to the first nine months of last year.

“We will continue to build on these developments through investment in the future capability and technology of our business, with the aim of making insurance much easier and better value for our customers.”

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Third quarter 2015 interim management statement on 3 Nov 2015

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