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City

Aviva and Direct Line agree £3.7bn insurance tie-up

Aviva has agreed a deal to buy rival insurer Direct Line in a £3.7 billion swoop. The FTSE 100 insurer is set to purchase its smaller competitor after a £3.3 billion was bid turned down in November. The companies had been locked in talks ahead of a ...

23 Dec 2024 at 08:13

City

Direct Line to axe 550 jobs under cost-cutting plan

Direct Line Group has revealed plans to axe around 550 jobs as it looks to cut costs amid a turnaround at the insurer. The group said it is consulting on the cuts as it seeks to save £50 million in 2025, although it stressed some of the role ...

11 Nov 2024 at 09:17

City

Direct Line shares surge after insurer rejects £3.3bn Aviva takeover tilt

Insurer Direct Line has seen shares soar after being thrust into the takeover spotlight once again following a £3.3 billion approach from rival Aviva. The firm saw its stock surge more than 39% in morning trading on Thursday following ...

28 Nov 2024 at 09:09

City

Direct Line boss gets £7.8m pay packet despite surging insurance costs

Direct Line’s boss landed a bumper payday in 2024 despite spiralling prices for customers and hundreds of job cuts, as he oversaw a sale of the company to insurance giant Aviva. Adam Winslow was given a £7.8 million pay package for ...

11 Mar 2025 at 15:50

City

Direct Line targets £100m yearly savings as it accelerates digital shift

Direct Line has said it plans to cut costs by more than £100 million a year as it shifts to automation and strengthens its digital channels, after rejecting a takeover approach from a rival insurer. The car insurance giant said ...

21 Mar 2024 at 13:15

City

Aviva set to complete £3.7bn takeover of Direct Line in July

Insurer Aviva has said its £3.7 billion takeover of rival Direct Line is set to complete next month after “constructive” talks with the competition watchdog. The Competition and Markets Authority (CMA) is not due to report ...

17 Jun 2025 at 08:07

City

Direct Line poaches Aviva’s Adam Winslow to be its new chief executive officer

Direct Line has appointed Adam Winslow from rival Aviva as its new chief executive officer. Mr Winslow, who is currently chief executive of Aviva’s UK and Ireland general insurance business, will take the reins in the ...

30 Aug 2023 at 09:58

City

Direct Line bosses stepping down in leadership reshuffle ahead of Aviva tie-up

Top bosses of Direct Line are stepping down in a major leadership reshuffle after overseeing the £3.7 billion sale of the company to insurance giant Aviva, it has been announced. Chief executive Adam Winslow and ...

23 Jun 2025 at 15:11

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