Direct Line – Lower Weather Costs Boost Profits
Direct Line Insurance Group PLC (LON:DLG)’s first half gross written premiums fell 1.5% year-on-year to £1.6bn. Of this, £1.1bn was for own-brand policies, down 2.4%. In force policies fell 1.1% to 14.5m, and own-brand policies rose 1.3% to 7.5m. Q2 2021 hedge fund letters, conferences and more Direct Line’s underlying operating profit rose from £264.9m to £369.9m and headline profit rose after tax rose from £192.6m to £203.8m. The difference largely reflects the purchase of the lease at the group’s Bromley offices, higher taxes and higher interest costs. The board has declared an interim divi...