March 8, 2024
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 …
March 1, 2024
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 …
February 28, 2024
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 …
August 30, 2023
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 …
August 30, 2023
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, …
January 27, 2023
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 …
August 29, 2019
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 …
September 28, 2018
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 …
March 3, 2015
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 …
February 11, 2015
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 …