Direct Line Group
Review of the year 2024: Brown & Brown’s Sime
Chris Sime, group markets director at Brown & Brown Europe, predicts a UK consolidator could get taken out by a US broker, wonders why buyers continue to pay multiples on unrealistic Ebitda projections and mulls what a Blanc/Winslow reunion might look…
Analysis: Aviva’s bid for DLG – what are the pros and cons for UK insurance brokers
The industry was abuzz last week with the ramifications of Aviva’s £3.3bn bid for Direct Line Group. Jonathan Swift reflects on the weekend’s developments, and what the deal might mean for UK brokers should the possibility of a green light gain momentum…
Analysts point to 265p per share to sweeten Aviva-DLG deal
Experts from Peel Hunt have labelled Aviva’s 250p per share approach for Direct Line as a “reasonable offer” adding there is “scope to sweeten the bid to 260-265p”.
DLG rejects £3.3bn Aviva takeover offer
Aviva has revealed it has become the second insurer to publicly bid for Direct Line Group this year, with an offer worth £3.3bn.
DLG to cut 550 jobs as it targets £100m of savings
Direct Line Group has started consultations with staff as part of a proposed reduction of about 550 roles, it announced today.
Saga confirms talks with Ageas over insurance “partnership”
Saga has today confirmed it is in discussions with Ageas with “regard to a potential partnership arrangement for its insurance business”.
Ex-Esure, L&G and Direct Line boss Peter Graham joins Markerstudy
Former CEO of Esure Peter Graham has been appointed as non-executive chairman (designate) of Markerstudy Insurance Services.
Ex-Aviva CEO Winslow raids former employer again
Direct Line Group has named Maz Bown as group chief risk officer, subject to regulatory approval, joining from Aviva where she was chief risk officer, UK General Insurance and Health.
Direct Line confirms Milliner to lead on claims in raft of management changes
Direct Line Group has confirmed the appointment of Martin Milliner as managing director of claims, as revealed earlier this week by Insurance Age.
LV claims director Milliner tipped for DLG role after exit
LV GI claims director Martin Milliner is to leave the insurer he joined in 2006, Insurance Age can reveal.
Winslow reunited with Aviva CFO Poole at DLG
Direct Line Group has appointed Jane Poole as group chief financial officer of the company, subject to regulatory approval.
Ageas ends DLG takeover plans after two rejections
After being rebuffed twice, Ageas has ended its pursuit of Direct Line Group, having valued the business at over £3.1bn.
Takeover target Direct Line posts £189m operating loss
Direct Line Group has revealed a £189.5m loss from ongoing operations as the sale of NIG pushed the insurer into profit for 2023.
Broker worries bubbling up on Ageas-Direct Line but one hope trumps all
Brokers have raised concerns about the impact on the sector if Ageas snaps up Direct Line but expressed confidence in the potential buyer’s management should a deal come to pass.
Direct Line rejects second “unattractive” takeover offer from Ageas
Direct Line Group has rejected a second takeover proposal from Ageas labelling it uncertain, unattractive and highly opportunistic.
Aviva open to bolt-on deals but unlikely to buy further in Lloyd’s, says Blanc
Aviva will maintain a “selective and disciplined approach” to mergers and acquisitions, according to group CEO Amanda Blanc as she indicated the insurer is not eyeing synergies with a Direct Line bid.
Analysis: What can brokers expect from RSA’s new-look commercial senior team?
With a new-look senior commercial lines team in place, brokers must hope RSA is done with chopping and changing at the top. Jonathan Swift assesses what the future might hold now dates have been set for the NIG integration.
Ageas weighs up £3.1bn Direct Line bid
Ageas has confirmed a possible offer for Direct Line Insurance Group valuing the business at £3.1bn.
Brokers updated on RSA purchase of NIG
Between May and July, NIG will transfer people, premises and assets and then start to move customers to RSA in a phased approach expected to be completed in Q3 2025.
People Moves: 5 – 9 February 2024
Stay in the loop with the latest insurance personnel moves.
DLG’s Bryson to replace Mooney as RSA commercial MD
RSA Insurance has announced that Sonya Bryson will replace Lee Mooney as commercial lines managing director, effective from 1 May 2024, subject to regulatory approval.
People Moves: 30 October – 3 November 2023
Keep up to date with the latest insurance personnel moves.
Market Moves: September 2023
All the latest key personnel moves across the insurance market.
Headline makers – September 2023
The hottest stories from 1 to 31 August.