Direct Line Insurance Group News

Insurer Ageas Recruits Extra Adviser as it Pursues Direct Line Bid

Belgian insurer Ageas has brought in an additional adviser as it presses ahead with a potential takeover offer for Britain’s Direct Line, three sources familiar with the matter told Reuters. Ageas has lined up Deutsche Bank to work alongside its …

UK Plc Attracts Wave of Takeover Offers From Foreign Suitors

The UK has become a hotbed for mergers and acquisitions this year as dealmakers hunt for bargains in the country’s underperforming stock market. Direct Line Insurance Group Plc and electronics retailer Currys Plc both rejected bids from overseas buyers this …

Direct Line Rejects ‘Unattractive’ £3.1 Billion Bid From Ageas

Direct Line Insurance Group Plc said its board unanimously rejected a bid from Ageas, describing the offer as “uncertain” and “unattractive.” The Belgian insurer said in a regulatory filing Wednesday that “it is in the preliminary stages of considering a …

UK’s Direct Line Group Names Aviva’s Winslow as Group Chief Executive Officer

UK insurer Direct Line Group announced that Adam Winslow has been appointed as chief executive officer, subject to regulatory approval. It is expected that he will take up the role in the first quarter of 2024, succeeding Jon Greenwood who …

Car Premiums to Rise Again as British Insurers Feel the Heat

Motorists in Britain should brace for another year of steep insurance rises as providers confront cost pressures, industry figures have warned. Admiral Group Plc will continue increasing motor insurance prices and expects the rest of the market to follow suit, …

British Motor Insurer Direct Line’s CEO James Steps Down

Direct Line Insurance Group’s chief executive of nearly four years, Penny James, will step down with immediate effect after the British motor and home insurer faced “significant headwinds” in recent months, the company said on Friday. James, who joined Direct …

European Insurers Are Having a Rough Time This August – Here’s Why…

European insurers are having a rough time. Already carrying the burden of low yields eroding their investment income, disappointing earnings as well as some companies’ exposure to Asia are making things even worse. The Stoxx Insurance 600 index is down …

Just Like Many British Homes, UK Insurers’ Shares Are Subsiding This Summer

Just like a lot of British houses this summer, U.K. insurance stocks are sinking. The country’s non-life insurers sector had its steepest drop in more than a year-and-a-half on Friday after its biggest constituent, RSA Insurance Group Plc, warned this …

U.K.’s Direct Line 2014 Profit Misses Estimates on Less Premiums Written

Direct Line Insurance Group plc reported 2014 pretax profit that missed analyst estimates as the British home and car insurer wrote less premiums. Pretax profit for continuing operations rose 12 percent to 456.8 million pounds ($702.8 million) in the year …

MAPFRE Net Income Rises 6.9% on Rebound in Spanish Business

MAPFRE SA, Spain’s biggest insurer, recorded a 6.9 percent rise in net income last year on higher returns in its home market. Net profit grew to 845 million euros ($956 million) from 790.5 million euros a year earlier, the Madrid-based …