All the updated news related to direct line

All the news related to direct line updated in real time

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City

Direct Line to launch more affordable car cover after price rises hit sales

Insurer Direct Line has revealed plans for a more affordable, basic car insurance policy for struggling motorists in the cost crisis after seeing sales slump following price hikes. Chief executive Penny James said the new policy will launch by the ...

08 Nov 2022 at 12:31

City

Direct Line axes dividend following freezing weather hit

Direct Line Insurance has seen shares plummet after the group scrapped its shareholder dividend following a warning over a hit from last month’s freezing weather and soaring costs of motor cover claims. The group’s shares tumbled 29% in morning ...

11 Jan 2023 at 09:13

More than 1,100 children charged with vehicle theft in three years

More than 1,100 children were charged with stealing a vehicle in the past three years, official figures show. Ministry of Justice (MoJ) data obtained by insurer Direct Line revealed that 1,156 people aged under 18 were charged with vehicle ...

15 Dec 2022 at 01:01

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 ...

23 Dec 2024 at 08:13

City

Car insurers see shares tumble as Sabre warns over hit from soaring costs

Shares in car insurers were sent tumbling into the red on Thursday after motor insurer Sabre warned over a hit from soaring costs as rampant inflation begins to take its toll on the sector. Sabre Insurance Group saw its stock plummet by ...

14 Jul 2022 at 13:51

City

Direct Line to increase insurance premiums after profits halve

Direct Line has seen profits almost halve and warned that insurance premiums will be increased to match the soaring cost of claims. The insurer said supply chain disruption and unusually high used car prices have pushed up claims costs ...

02 Aug 2022 at 16:12

City

Direct Line swings to loss but shares jump on hopes of turnaround

Insurer Direct Line said it slumped to a half-year loss and warned the full-year out-turn will continue to be knocked by higher motor cover claims. The group swung to an operating loss of £78.3 million for the first six months of 2023 ...

07 Sept 2023 at 09:46

City

Direct Line rejects ‘opportunistic’ takeover approach from rival insurer

Direct Line has rejected an “opportunistic” takeover approach worth about £3.1 billion from Belgium-based rival Ageas, as it becomes the latest UK-listed company to be eyed by a potential buyer. The car insurance giant said it ...

28 Feb 2024 at 16:31

Demand grows for home air conditioning as temperatures rise

Some 95% of estate agents are seeing an increase in demand for homes with air conditioning as temperatures rise, a survey has suggested. More than four in five agents (88%) also reported a rise in homes coming to the market ...

02 Aug 2024 at 10:21

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 ...

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 ...

28 Nov 2024 at 09:09

City

Direct Line shares slump after potential suitor Ageas pulls out

Shares in Direct Line plummeted on Monday as markets opened for the first time after potential suitor Ageas said it would not bid to buy the company. The insurance company was trading down as much as 15.8% ...

25 Mar 2024 at 09:07

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