Insurance Age

Direct Line overcomes weather claims to post £135m profit

Paul Geddes
    • Andrew Pearce

    • Indicative reading time: 1 minute

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Direct Line Group overcame "worse-than-expected" home weather claims to post an operating profit of £135m during this year's second quarter.

Despite claims of some £40m the insurer saw its operating profit jump 61% from the £84m recorded during quarter one 2012.

The group cited that the claims were "more than offset" by significant releases from reserves held against prior year claims.

It posted an operating profit of £219m (H1 2012), also up on the £206m recorded during the same period last year.

Direct Line Group - which was rebranded from the Royal Bank of Scotland Insurance (RBSI) earlier this year - also saw its combined

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