Direct Line Group
The Insurance Age Podcast: 28 February 2020
The Insurance Age team chat about the most popular news stories of the week.
Direct Line’s Ipswich office to close amid redundancy plan
The provider confirmed that the Manchester office is also set to be down-sized as the insurer seeks to cut around 800 jobs due to digital drive.
Direct Line Group results outline £50m cost-cutting drive
Restructures costing the business £60m will also take place over the next two years.
NIG undergoes management reshuffle
Responsibility for e-trade will be handled in the regions after Swindle exit as further managers leave the provider.
Insurers most at risk from FCA pricing review named by analyst
Analyst firm Peel Hunt highlighted Direct Line, RSA and Saga as particularly vulnerable.
YouGov report reveals 73% of policy holders shop around for insurance
Report also found that only 14% of consumers use word of mouth when in the process of switching their insurance.
Latest Ogden rate change will cost the industry over £160m
Insurers have revealed the impact from the change in the discount rate to -0.25%.
Direct Line points to NIG growth in H1 results
In force policies at the broker-focused part of the business grew 2.4% as the group numbers flag a £15.9m Ogden hit.
Direct Line founder Peter Wood sets sights on broker Pikl
The on-demand property broker, which focuses on the sharing economy, has raised £2.5m in a funding round led by Peter Wood and Esure.
GWP and operating profit fall at Direct Line in 2018
Broker business NIG's GWP was flat, while the number of in-force policies grew.
Successor announced for CEO Geddes at Direct Line
Penny James, CFO at the insurer is set to take the helm from 9 May this year.
NIG extends broker training programme with new courses
The insurer said Connect for Brokers is designed to help brokers build a customer-centric culture across their organisation.
Direct Line planning £400m offer for L&G's GI business - report
News of a potential sale was first revealed earlier this month.
Podcast: Allianz’s Sarah Mallaby gives her view on five stories from the week
Mallaby discusses Marsh’s takeover of JLT, cyber issues in the market and insurance fraud.
FCA warns on clone of Direct Line’s UK Insurance
The genuine authorised firm does not sell to the public through the brand.
Market moves: Rock steady
While the insurance news flow traditionally slows down over the summer holidays, there has still been a steady stream of people moves
Podcast: The top five stories of the week
Siân Barton and Ida Axling chat about the most popular stories to hit the headlines.
Direct Line names new NIG MD
She takes over the role from Neil Manser.
NIG's policy numbers fall in first half of 2018
Insurer's GWP also declines to £205.9m as Direct Line for Business continues to grow.
CEO Paul Geddes to leave Direct Line
His departure is planned for the summer of 2019.
Former Axa claims handler jailed for fraud
Fraudster sentenced to a year in prison after stealing more than £10,000 from Aviva, RSA, Allianz, Direct Line and Axa.
Dive In 2018 launches
Festival for diversity and inclusion is to take place on 25 to 27 September and focus on time and action.
Ex-Lloyd's CEO Richard Ward joins Ardonagh
Ward takes on newly created role of executive chairman of specialty & international and MGA at the firm.
Neil Manser to exit NIG group MD role
Manser will take up the deputy CFO position at parent company Direct Line Group later this year.