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Direct Line combined ratio to be behind target range
StockMarketWire.com
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Gross written premium at insurer Direct Line fell 0.8% in the third quarter to 0.8% as it said it was on track to deliver a combined operating ratio slightly behind its target range of 93% to 95% in 2020.
The company also reiterated its medium-term combined operating ratio target but acknowledged 'this will inevitably depend on the duration and uncertainties of the Covid-19 pandemic, the impact of Brexit, the FCA pricing practices report and any consequential impact on customer, market and regulatory approaches'.
Gross written premium in motor was down 2.3% to £447.2 million, in home down 1.3% to £156.6 million, in its Green Flag rescue business it fell 5.3% to £111.2 million and in its commercial operation up 9.9% to £136.5 million.
Story provided by StockMarketWire.com
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