GWP and operating profit fall at Direct Line in 2018

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Gross written premium (GWP) at Direct Line Group fell by 5.3% in 2018, according to its financial results.

The insurer’s total GWP was £3.2bn, compared to £3.4bn in 2017 and its operating profit also decreased to £601.7m (2017: £642.8m).

The provider stated that profit fell despite the figure including a £55m benefit from moving to an assumed 0% Ogden discount rate.

Combined operating ratio (COR) for the business came in at 91.7% in 2018, a slight deterioration from the 90.8% is posted last

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