Direct Line rues "subdued" investment returns

Paul Geddes

The provider reported that profits had dropped to £141.8m compared to £223.3m for the same period last year.

Direct Line - which announced a cost-cutting drive in September - saw its restructuring and one-off costs leap from £30.6m to £136.9m.

The insurer confirmed that its operating profit remained largely the same at £347.9m, marginally up 3% on the £337.8m posted for the same period last year.

Meanwhile, Direct Line reported £1.03bn gross written premium for ongoing operations in the third

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