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
- Mactavish lays down the gauntlet on cyber
- Ageas redundancies confirmed
- Simon Matson says ‘complicated fat Arab’ slur regrettable but not discriminatory: Gallagher v Ardonagh
- Discount rate review set to begin
- Industry responds to reports of sexual harassment in Lloyd's
- EY report reveals £1 trillion Brexit exodus
- FSCS recovers £300m for levy payers