Duyuru • Jul 03
FCA Cancels Listing of Direct Line Insurance Group Shares from Official List & LSE Direct Line Insurance Group plc announced that Further to the announcement made by the boards of Direct Line and Aviva on 2 July 2025, Direct Line announces that, following an application by Direct Line, the Financial Conduct Authority has cancelled the listing of Direct Line Shares on the Official List and the London Stock Exchange has cancelled the trading of Direct Line Shares on the London Stock Exchange's Main Market for listed securities, in each case with effect from 8:00 a.m. (London time), 3 July 2025. Capitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the scheme document published on 10 February 2025 in relation to the recommended cash and share offer by Aviva for the entire issued and to be issued share capital of Direct Line, effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act (the "Scheme Document"). Duyuru • Jun 27
Direct Line Insurance Group plc Announces Directorate Change Direct Line Insurance Group plc announced that further to the announcement on June 23, 2025 outlining intended Direct Line board changes, following a Board meeting held on June 26, 2025, Direct Line confirms that the individuals listed as prospective directors in the June 23 announcement have now been formally appointed as directors of Direct Line, subject to, and with effect from, the scheme of arrangement to implement Aviva's acquisition of Direct Line becoming effective. In accordance with the Financial Conduct Authority's UK Listing Rules ("UKLR"), the details of all directorships held by those individuals in other publicly quoted companies at any time in the previous five years are as follows: Ian Clark, Aviva plc, Non-Executive Director (11 March 2024 - present) and Sabre Insurance Group plc, Non-Executive Director (21 September 2017- 22 May 2024); Fiona Fry, AJ Bell plc,Non-Executive Director(7 December 2023 - present) and Charlotte Jones, Aviva plc, Group Chief Financial Officer (5 September 2022 - present) and RSA Insurance Group plc, Chief Financial Officer (1 April 2018 - 1 April 2022). Duyuru • May 16
Direct Line Insurance Group plc Approves Final Dividend Direct Line Insurance Group plc approved a final dividend of 5.0 pence per share, at its AGM held on 14 May 2025. Duyuru • Mar 05
Direct Line Insurance Group plc, Annual General Meeting, May 14, 2025 Direct Line Insurance Group plc, Annual General Meeting, May 14, 2025. Duyuru • Feb 11
Direct Line Insurance Group plc to Report Fiscal Year 2024 Results on Mar 04, 2025 Direct Line Insurance Group plc announced that they will report fiscal year 2024 results at 7:00 AM, Coordinated Universal Time on Mar 04, 2025 Board Change • Dec 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Group CFO & Executive Director Jane Poole was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Nov 28
Aviva plc (LSE:AV.) cancelled the acquisition of Direct Line Insurance Group plc (LSE:DLG) for £3.25 billion. Aviva plc (LSE:AV.) submitted a non-binding proposal to acquire Direct Line Insurance Group plc (LSE:DLG) for £3.25 billion on November 19, 2024. The consideration consists of common equity of Aviva plc at a ratio of 0.282 per common equity of Direct Line Insurance Group plc. A cash consideration valued at £1.125 per share will be paid by Aviva plc. As part of consideration, an undisclosed value is paid towards common equity of Direct Line Insurance Group plc. The Proposal represents total consideration valued at 250 pence per share. Aviva is required to either announce a firm intention to make an offer for the Company or announce that it does not intend to make an offer for the Company by December 25, 2024.
Peter Brown, Sian Evans, Peter Catterall and Michael Lamb of Citigroup Global Markets Limited acted as financial advisor for Aviva plc. Anthony Gutman, Nimesh Khiroya and Bertie Whitehead of Goldman Sachs International acted as financial advisor for Aviva plc. Ben Grindley, Laurence Hopkins and Melissa Godoy of Morgan Stanley International Limited acted as financial advisor for Direct Line Insurance Group plc. Simon Robey and Chetan Singh of Robey Warshaw LLP acted as financial advisor for Direct Line Insurance Group plc.
Aviva plc (LSE:AV.) cancelled the acquisition of Direct Line Insurance Group plc (LSE:DLG) on November 26, 2024. Direct Line Insurance board unanimously rejected the Proposal stating that the Proposal as substantially undervaluing Direct Line, and has declined to engage further with Aviva. Duyuru • Nov 01
Direct Line Insurance Group plc Appoints Carol Hagh as Member of Its Remuneration Committee The Board of Direct Line Insurance Group plc announced that it has resolved to appoint Carol Hagh, independent Non-Executive Director, as a member of its Remuneration Committee with effect from 1 November 2024. Duyuru • Oct 10
Direct Line Insurance Group plc Announces Directorate and Committee Changes Direct Line Insurance Group plc announced that Jane Poole has joined DLG as has been appointed to the Board as an Executive Director with effect from today. Jane has also been appointed as a member of the Board's Investment Committee. As announced on 10 April 2024, Jane is succeeding Neil Manser, who has ceased to be an Executive Director, also with effect from October 10, 2024. Reported Earnings • Sep 06
First half 2024 earnings released: EPS: UK£0.028 (vs UK£0.046 loss in 1H 2023) First half 2024 results: EPS: UK£0.028 (up from UK£0.046 loss in 1H 2023). Revenue: UK£1.69b (up 7.0% from 1H 2023). Net income: UK£36.1m (up UK£96.3m from 1H 2023). Profit margin: 2.1% (up from net loss in 1H 2023). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Duyuru • Sep 04
Direct Line Insurance Group plc to Declare A Dividend, Payable on 11 October 2024 Direct Line Insurance Group plc reviewed the progress the Group has made in turning around the business and, based on the Group's strong solvency coverage ratio and underlying capital generation over the last 12 months, has concluded it is appropriate to declare a dividend of 2.0 pence per share (£26 million). The dividend is scheduled to be paid on 11 October 2024 to shareholders on the register on 13 September 2024. The ex-dividend date will be 12 September 2024. Duyuru • Jul 04
Direct Line Insurance Group plc to Report First Half, 2024 Results on Sep 04, 2024 Direct Line Insurance Group plc announced that they will report first half, 2024 results on Sep 04, 2024 Board Change • Jun 13
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Carol Hagh was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • May 09
Direct Line Insurance Group plc Approves Final Dividend Direct Line Insurance Group plc at its Annual General Meeting held on May 8, 2024 approved a final dividend of 4.0 pence per share at the Annual General Meeting . Duyuru • May 03
Direct Line Insurance Group plc Announces Significant Leadership Changes Direct Line Group announced three new appointments to its Executive Committee to further strengthen its management capability and drive growth. Craig Thornton is to be appointed Managing Director, Home and Growth, Martin Milliner as Managing Director of Claims and Hugh Hessing as Chief Operating Officer. All three appointments will report directly to the CEO and are subject to regulatory approval. In addition, the Group announced two further senior appointments: Roger Lowry as Director of Corporate Affairs and Alexandra Hayes as Chief of Staff to augment and strengthen the skills and experience of its leadership team. Both appointments will report directly to the CEO, Adam Winslow, and will attend the Executive Committee. In the role of Managing Director Home and Growth, Craig Thornton will lead the Group's Home and Growth insurance strategies across all brands and utilise his impressive track record at ExCo level for the benefit of the business more broadly. Craig joins the Group after spending the last ten years at Lloyds Banking Group, where he was General Insurance, Protection and Investments Director. Martin Milliner joins as Managing Director of Claims and brings extensive claims experience and expertise. He will drive the Group's ambition to build a market-leading claims function, delivering great service for customers and increasing operational efficiency. He joins the Group from Allianz where he was Claims Director and was previously Head of Operational Claims and Director of Claimant Technical Services at LV=. Martin is an industry thought leader and strategist and has sat on the Thatcham and Insurance Fraud Bureau boards. As Chief Operating Officer Hugh Hessing will lead Customer operations, Procurement, and Transformation activity across DLG ensuring there is a strong customer focus. Hugh has extensive experience in these areas, having been UK Chief Operating Officer and UK Customer Services Director at Aviva and CEO of Aviva Ireland. Hugh has also led major transformation initiatives that delivered significant outcomes whilst he was at Aviva and prior to that at KPMG. He has most recently been running his own consultancy business in the financial services sector. Roger Lowry will join as Director of Corporate Affairs to strengthen the Group's external and internal communications. Roger was most recently Director of Communications and Marketing at QBE Insurance. He brings a wealth of financial services and regulatory experience having also held senior positions at Royal Bank of Scotland and Ofcom. Alexandra Hayes (Alex) will take up the post of Chief of Staff to the CEO supporting him across the Group's strategic priorities and deliverables. Alex joins from Lloyd's where she has been Chief of Staff to the CEO. She has extensive experience of driving results across a range of financial services companies in various roles, along with multiple leadership roles on operations as a Royal Engineers Officer in the British Army. Duyuru • Mar 25
Ageas Plans Not to Make Further Offer for Direct Line Insurance ageas SA/NV (ENXTBR:AGS) announced that, following the two recent attempts to engage with the Board of Directors of Direct Line Insurance Group plc (LSE:DLG) ("Direct Line") in relation to the acquisition by Ageas of the entire issued and to be issued share capital of Direct Line, which were both rejected, it will not make an offer for Direct Line. As a result of this announcement, Ageas (and any persons acting in concert with it) will, except with the consent of the UK Panel on Takeovers and Mergers (the "Panel"), be bound by the restrictions contained in Rule 2.8 of the Code. For the purposes of Rule 2.8 of the Code, Ageas (and any persons acting in concert with it) reserves the right to announce an offer or possible offer for Direct Line or make or participate in an offer or possible offer for Direct Line and/or take any other action otherwise precluded under Rule 2.8 of the Code within six months of the date of this announcement in the following circumstances described in Note 2 to Rule 2.8 of the Code: (i) with the agreement of the Board of Directors of Direct Line; (ii) if a third party (including another publicly identified potential offeror) announces a firm intention to make an offer for Direct Line; (iii) if Direct Line announces a Rule 9 waiver or a reverse takeover (as defined in the Code); or (iv) if the Panel determines there has been a material change of circumstances. On 19 January 2024, Ageas provided the Board of Direct Line with an initial possible offer proposal (the "Initial Possible Offer") to acquire the entire issued and to be issued share capital of Direct Line. The terms of the Initial Possible Offer were improved on 9 March 2024 and set out in an announcement (the "Improved Possible Offer") on 13 March 2024. Ageas believes that the proposal, on these terms, would have created significant value for both groups of shareholders and other stakeholders. Throughout the entire process, Ageas has always sought engagement with Direct Line's Board. Ageas regrets that it has not been able to work collaboratively together with the Board of Directors of Direct Line towards a recommended Firm Offer. Ageas was not able to identify additional elements based on publicly available information that would justify significant adjustments to the terms of its possible offer. Therefore, consistent with its financial discipline, Ageas has decided not to make a Firm Offer. Ageas continues to believe in the underlying attractiveness and future opportunities of the UK personal lines sector and the role of Ageas UK in this market, underpinned by its successful turnaround over the last few years. Ageas UK will continue to execute its focused personal lines insurance strategy alongside its valued distribution partners. Ageas remains focused on the execution of its strategy, as a group of local companies outperforming in their markets, benefitting from synergies within the Group. Ageas re-iterates its confidence to deliver on its stated Impact24 financial and operating targets thanks to the strong performance of its operating entities. The Group's solid foundations underpin our attractive dividend growth ambitions in line with our stated Impact24 ambitions and beyond this strategic cycle. Hans De Cuyper, CEO of Ageas, said: "We had hoped to reach agreement on a jointly recommended Firm Offer together with the Direct Line Board. However, I am convinced that given the circumstances we took the right decision not to make an offer, staying true to who we are and what we stand for in terms of maintaining a friendly approach and respecting our financial discipline. I sincerely want to thank our employees and advisors who delivered outstanding performance exploring this opportunity, and our investors for their continued trust in our company". Duyuru • Mar 23
Direct Line Insurance Group plc Proposes Dividend for the Year Ended 31 December 2023, Payable on 17 May 2024 Direct Line Insurance Group plc is proposing a dividend for the year ended 31 December 2023 of 4.0 pence per share (£52 million). The final dividend is to be recommended to the shareholders at the annual general meeting scheduled for 8 May 2024 and paid on 17 May 2024 to shareholders on the register on 5 April 2024. The ex-dividend date will be 4 April 2024. Duyuru • Mar 15
ageas SA/NV (ENXTBR:AGS) cancelled the acquisition of Direct Line Insurance Group plc (LSE:DLG). ageas SA/NV (ENXTBR:AGS) made an offer to acquire Direct Line Insurance Group plc (LSE:DLG) for approximately £3 billion on January 19, 2024. Under the terms of Ageas' Possible Offer, Direct Line shareholders would receive £1 in cash and one new Ageas share for every 25.24047 Direct Line Group shares. As of February 29, 2024, the Board considered the Proposal with its advisers and considered it to be uncertain, unattractive, and that it significantly undervalued Direct Line Group and its future prospects while also being highly opportunistic in nature. Accordingly, the Board unanimously rejected the Proposal. As of March 13, 2024, Ageas SA/NV submitted an improved possible offer to the Board of Directors of Direct Line to acquire the entire issued and to be issued share capital of Direct Line. Under the terms of Ageas' Improved Possible Offer, Direct Line shareholders would receive: (i) £1.20 in cash for each Direct Line share; and (ii) One newly issued Ageas share for every 28.41107 Direct Line shares. The Improved Possible Offer has an implied value of £2.39 per Direct Line share, representing a significant premium of 46% to 163.35 pence, being the undisturbed closing share price per Direct Line share on the business day prior to the announcement of the Initial Possible Offer. The Improved Possible Offer values the entire issued and to be issued ordinary share capital of Direct Line at approximately £3.171 million. The cash component of the consideration and associated transaction costs will ultimately be financed through a mix of existing cash and newly issued debt instruments. The share consideration is intended to be satisfied via newly issued Ageas shares.
The transaction remains subject to the satisfaction or waiver by Ageas of a number of pre-conditions, including, among others, completion of satisfactory due diligence by Ageas and reciprocal due diligence by Direct Line, receipt of irrevocable undertakings from each member of the Direct Line Board of Directors who holds Direct Line shares and Direct Line shareholders to vote in favor of the Improved Possible Offer, agreement of the detailed terms of the Improved Possible Offer and the unanimous and unqualified recommendation of the Board of Direct Line. Ageas reserves the right to waive in whole or in part any pre-conditions.
Jonathan Alpert, Geoff Iles, Marcus Jackson, Benjamin Ries and Sid Rishi of Merrill Lynch International acted as a financial advisor, Linklaters LLP acted as a legal advisor to ageas. Mark Sorrell, Charlie Lytle and Ashish Pokharna of Goldman Sachs International; Ben Grindley, Laurence Hopkins and Melissa Godoy of Morgan Stanley & Co. International plc, Oliver Hearsey, Elliot Thomas and Ezzedine Ben Frej of RBC Europe Limited acted as financial advisors to Direct line. Marie-Soazic Geffroy, Hubert Vannier, Derek Shakespeare, Inigo de Areilza, Charles Farquhar of Deutsche Bank AG, London Branch is acting as a financial adviser to Ageas. Simon Robey of Robey Warshaw LLP and Chetan Singh and James Robinson of J.P. Morgan Securities plc acted as financial advisor to Direct Line Insurance Group.
ageas SA/NV (ENXTBR:AGS) cancelled the acquisition of Direct Line Insurance Group plc (LSE:DLG) on March 13, 2024. Direct Line Insurance Board considered the Latest Proposal with its advisers and continues to believe the Latest Proposal is uncertain, unattractive, and that it significantly undervalues Direct Line Group and its future prospects while also being highly opportunistic in nature. Accordingly, the Board unanimously rejected the Latest Proposal. Direct Line Group shareholders are advised to take no action. Duyuru • Feb 29
Direct Line Soars as Ageas Mulls 3.10b Bid Shares in Direct Line Insurance Group plc (LSE:DLG) jumped on February 28, 2024 after Belgian insurer ageas SA/NV (ENXTBR:AGS) confirmed it was considering making an offer for the company. Shares in Direct Line, the Bromley, England-based motor and home insurer, soared 22% to 199.69 pence each in London on February 28, 2024. Ageas said the terms of the proposed cash and shares offer had an implied value of 233p per Direct Line share, representing a premium of 43% to 163.35 pence, closing price on February 27, 2024. The terms of the proposed bid are 100p in cash for each Direct Line share, and one new Ageas share for every 25.24047 Direct Line shares. Ageas said this would value Direct Line at around GBP 3.10 billion. A combination offered "compelling strategic and financial value for both Ageas and Direct Line shareholders", it added. Ageas highlighted the potential to drive operational improvements and efficiencies, in part through the removal of overlapping overhead costs after the integration of Ageas' and Direct Line'sUK businesses. Earlier February 28, 2024, Bloomberg reported that Direct Line had rebuffed an approach from Ageas, citing people familiar with the matter. Duyuru • Feb 09
Direct Line Insurance Group plc to Report Fiscal Year 2023 Results on Mar 21, 2024 Direct Line Insurance Group plc announced that they will report fiscal year 2023 results at 7:00 AM, Coordinated Universal Time on Mar 21, 2024 Duyuru • Dec 07
Direct Line Insurance Group plc Announces Directorate Change Direct Line Insurance Group plc announced the following changes to the membership of the Board and its Committees. Sebastian James, Independent Non-Executive Director and Chair of the Sustainability Committee, who was appointed to the Board in August 2014, will be stepping down from the Board on 31 December 2023, having served as a Non-Executive Director for over nine years. David Neave, Independent Non-Executive Director, has been appointed as a member of the Audit Committee and the Board Risk Committee with effect from 6 December 2023. Tracy Corrigan, Mark Gregory, Adrian Joseph, Mark Lewis, Fiona McBain, David Neave and Gregor Stewart, independent Non-Executive Directors, will be appointed as members of the Nomination and Governance Committee with effect from 1 January 2024. Duyuru • Oct 20
Direct Line Insurance Group plc Appoints David Neave as Independent Non-Executive Director The Board of Direct Line Insurance Group plc announced that David Neave has been appointed as an independent Non-Executive Director with effect from 19 October 2023. David's career has spanned General and Life Insurance, broking and the legal and technology sectors. He is Chair of the Advisory Board of The Common Automotive Platform Standard (CAPS) and has previously held chairmanships, non-executive directorships and advisory roles in a number of insurance, InsurTech, consultancy and legal businesses, including Slater and Gordon UK Ltd, The Solicitors Indemnity Fund, Liverpool Victoria Friendly Society and Accenture UK Ltd. His executive career culminated in his appointment as Chief Executive of General Insurance for Co-Operative Insurance, which followed over twenty years of senior management roles in claims and underwriting at RSA. Duyuru • Sep 18
Direct Line Insurance Group plc(LSE:DLG) dropped from FTSE All-World Index (USD) Direct Line Insurance Group plc(LSE:DLG) dropped from FTSE All-World Index (USD) Reported Earnings • Sep 11
First half 2023 earnings released: UK£0.046 loss per share (vs UK£0.003 loss in 1H 2022) First half 2023 results: UK£0.046 loss per share (further deteriorated from UK£0.003 loss in 1H 2022). Revenue: UK£1.66b (up 14% from 1H 2022). Net loss: UK£60.2m (loss widened UK£56.6m from 1H 2022). Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Insurance industry in Germany are expected to grow by 2.6%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Duyuru • Sep 08
RSA Insurance Group Limited signed an agreement to acquire Brokered commercial insurance business from Direct Line Insurance Group plc for £550 million. RSA Insurance Group Limited signed an agreement to acquire Brokered commercial insurance business from Direct Line Insurance Group plc for £550 million on September 6, 2023. As per the terms of the transaction, the Initial consideration is of £520 million, and potential further consideration of up to £30 million, contingent upon certain earn-out provisions relating to the financial performance of the Brokered Commercial Insurance Business. As at June 30, 2023, the total assets of the Brokered Commercial Insurance Business were £8 million. Transaction is subject to regulatory, court, and Direct line shareholders approval. The Direct line Board unanimously recommends that Direct Line Group shareholders vote in favor of the Transaction at the Company's general meeting. Morgan Stanley & Co. International plc, RBC Europe Limited acted as financial adviosrs, Allen & Overy LLP acted as a legal advisor to Direct Line Insurance Group plc. Board Change • Sep 07
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Acting CEO, Chief Commercial Officer & Director Jon Greenwood was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Sep 01
Direct Line Insurance Announces CEO Changes Direct Line Insurance announced that it has appointed, Adam Winslow, as Chief Executive Officer. Winslow will take over in the first-quarter of 2024. Since May 2021, Winslow has led Aviva's UK and Ireland general insurance business. Prior to this, he was CEO of Global Life at AIG Life and Retirement, now Corebridge. On January 27, Direct Line had announced that its CEO Penny James has decided to step down with immediateeffect. Subsequently, its Chief Commercial Officer Jon Greenwood has been acting as the chief executive. As planned, Jon intends leave his executive career to pursue other opportunities. Duyuru • Jun 02
Direct Line Insurance Group plc to Report First Half, 2023 Results on Sep 07, 2023 Direct Line Insurance Group plc announced that they will report first half, 2023 results on Sep 07, 2023 Recent Insider Transactions • Jun 01
Acting Chief Executive Officer recently sold €163k worth of stock On the 26th of May, Jonathan Greenwood sold around 85k shares on-market at roughly €1.91 per share. This transaction amounted to 75% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Jonathan has been a net seller over the last 12 months, reducing personal holdings by €177k. Reported Earnings • Mar 14
Full year 2022 earnings released: UK£0.043 loss per share (vs UK£0.24 profit in FY 2021) Full year 2022 results: UK£0.043 loss per share (down from UK£0.24 profit in FY 2021). Revenue: UK£3.17b (down 1.4% from FY 2021). Net loss: UK£39.5m (down 112% from profit in FY 2021). Revenue is forecast to stay flat during the next 3 years compared to a 5.8% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Duyuru • Feb 18
Direct Line Insurance Group plc Appoints Mark Lewis as Independent Non-Executive Director, Effective 30 March 2023 The Board of Direct Line Insurance Group plc announced that Mark Lewis will be appointed as an independent Non-Executive Director with effect from 30 March 2023. Mark's career has spanned financial services, retail, e-commerce, management consultancy and advertising. Most recently, he was Chief Executive of the MoneySupermarket Group, overseeing a period of revenue and profit growth for the UK listed price comparison business. In earlier roles, Mark was the Retail and Online Director for John Lewis and the Managing Director of eBay UK, having started his career producing advertising. Mark is an independent non-executive director of Santander UK plc and a trustee of The Photographers' Gallery. Duyuru • Jan 11
Direct Line Insurance Group plc Omits to Pay Final Dividend for the Financial Year 2022 Direct Line Insurance Group plc announced that the dynamics of 2022, and in particular the additional factors in the fourth quarter, have resulted in a capital coverage that is now expected to be at the lower end of its risk appetite range of 140% to 180%. Therefore, the Board no longer expects to pay a final dividend for the 2022 financial year. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improved over the past week After last week's 16% share price gain to €2.78, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Insurance industry in Germany. Total loss to shareholders of 8.7% over the past three years. Reported Earnings • Aug 03
First half 2022 earnings released: EPS: UK£0.10 (vs UK£0.14 in 1H 2021) First half 2022 results: EPS: UK£0.10 (down from UK£0.14 in 1H 2021). Revenue: UK£1.60b (flat on 1H 2021). Net income: UK£137.4m (down 30% from 1H 2021). Profit margin: 8.6% (down from 12% in 1H 2021). Over the next year, revenue is expected to shrink by 4.1% compared to a 22% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 9% per year. Duyuru • Aug 02
Direct Line Insurance Group plc Announces Interim Dividend, Payable on 9 September 2022 The Board of Direct Line Insurance Group plc has announced an interim dividend of 7.6 pence per share (2021: 7.6 pence). The interim dividend is scheduled to be paid on 9 September 2022 to shareholders on the register on 12 August 2022. The ex-dividend date will be 11 August 2022. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment deteriorated over the past week After last week's 22% share price decline to €2.30, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Insurance industry in Germany. Total loss to shareholders of 23% over the past three years. Duyuru • Jul 18
Direct Line Insurance Group plc Provides Earnings Guidance for the Full Year of 2022 Direct Line Insurance Group plc provided earnings guidance for the full year of 2022. Given the higher current year loss ratio, the Group now expects the full year 2022 combined operating ratio to be in the range of 96% to 98%, normalised for weather. Whilst the Group still expects 2022 net investment income yield to be around 1.7%, based on current reinvestment rates and maturity profile it expects this to increase to around 2.2% in 2023. Upcoming Dividend • Mar 31
Upcoming dividend of UK£0.15 per share Eligible shareholders must have bought the stock before 07 April 2022. Payment date: 17 May 2022. Payout ratio and cash payout ratio are on the higher end at 93% and 100% respectively. Trailing yield: 8.2%. Within top quartile of German dividend payers (3.7%). Higher than average of industry peers (4.5%). Duyuru • Mar 10
Direct Line Insurance Group plc Recommends Final Dividend for the Year Ended 31 December 2021, Payable on 17 May 2022 The board of Direct Line Insurance Group plc has recommended a final dividend of 15.1 pence per share for the year ended 31 December 2021 (2020: 14.7 pence), an increase of 0.4 pence per share (2.7%). The final dividend will be paid on 17 May 2022 to shareholders on the register on 8 April 2022. The ex-dividend date will be 7 April 2022. Reported Earnings • Mar 09
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: UK£0.24 (down from UK£0.26 in FY 2020). Revenue: UK£3.21b (flat on FY 2020). Net income: UK£327.1m (down 6.7% from FY 2020). Profit margin: 10% (in line with FY 2020). Combined ratio: 90.1% (down from 91.0% in FY 2020). Revenue missed analyst estimates by 1.8%. Over the next year, revenue is expected to shrink by 4.1% compared to a 20% growth forecast for the insurance industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 8% per year. Recent Insider Transactions • Sep 03
Independent Non-Executive Chairman recently bought €60k worth of stock On the 2nd of September, Danuta Gray bought around 17k shares on-market at roughly €3.62 per share. This was the largest purchase by an insider in the last 3 months. This was Danuta's only on-market trade for the last 12 months. Reported Earnings • Aug 05
First half 2021 earnings released: EPS UK£0.14 (vs UK£0.14 in 1H 2020) The company reported a mediocre first half result with weaker revenues, although profit margins were flat and earnings improved. First half 2021 results: Revenue: UK£1.59b (down 1.2% from 1H 2020). Net income: UK£195.5m (up 6.1% from 1H 2020). Profit margin: 12% (in line with 1H 2020). Executive Departure • May 21
Independent Non-Executive Director has left the company On the 13th of May, Jane Hanson's tenure as Independent Non-Executive Director ended after 9.4 years in the role. As of March 2021, Jane personally held 11.08k shares (€41k worth at the time). A total of 3 executives have left over the last 12 months. Executive Departure • May 21
CFO & Executive Director has left the company On the 13th of May, Timothy Harris' tenure as CFO & Executive Director ended after 1.6 years in the role. As of March 2021, Timothy personally held only 5.79k shares (€21k worth at the time). A total of 3 executives have left over the last 12 months. Recent Insider Transactions • Apr 03
Chief Operating Officer recently sold €58k worth of stock On the 29th of March, Steven Maddock sold around 16k shares on-market at roughly €3.69 per share. This was the largest sale by an insider in the last 3 months. Steven has been a seller over the last 12 months, reducing personal holdings by €602k. Upcoming Dividend • Apr 01
Upcoming dividend of UK£0.15 per share Eligible shareholders must have bought the stock before 08 April 2021. Payment date: 20 May 2021. Trailing yield: 7.0%. Within top quartile of German dividend payers (3.3%). Higher than average of industry peers (4.1%). Reported Earnings • Mar 26
Full year 2020 earnings released: EPS UK£0.26 (vs UK£0.29 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: UK£3.23b (down 2.3% from FY 2019). Net income: UK£350.6m (down 13% from FY 2019). Profit margin: 11% (down from 12% in FY 2019). Combined ratio: 91.0% (down from 92.2% in FY 2019). Reported Earnings • Mar 10
Full year 2020 earnings released: EPS UK£0.26 (vs UK£0.29 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: UK£3.21b (down 2.7% from FY 2019). Net income: UK£367.2m (down 9.0% from FY 2019). Profit margin: 11% (in line with FY 2019). Combined ratio: 91.0% (down from 92.2% in FY 2019). Analyst Estimate Surprise Post Earnings • Mar 10
Revenue misses expectations Revenue missed analyst estimates by 0.5%. Over the next year, revenue is expected to shrink by 5.5% compared to a 12% growth forecast for the Insurance industry in Germany. Is New 90 Day High Low • Mar 04
New 90-day high: €3.80 The company is up 13% from its price of €3.35 on 03 December 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.21 per share. Is New 90 Day High Low • Jan 04
New 90-day high: €3.49 The company is up 15% from its price of €3.02 on 06 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.71 per share. Duyuru • Dec 23
Direct Line Insurance Group plc Announces Board Changes The Board of Direct Line Insurance Group plc ('DLG') announced that it has agreed the following changes to its composition and to the membership of its Remuneration, Investment and Corporate Responsibility Committees. Adrian Joseph OBE will join the Board and become a member of the Corporate Responsibility Committee with effect from 1 January 2021. Adrian is Managing Director, Group AI and Data Solutions at BT. Before joining BT, he was a senior partner at EY, Head of the UK Data and Analytics practice for Financial Services and a member of the European Innovation Board. He joined EY after ten years at Google, where his last role was Director, Analytics and Measurement Services, EMEA. Before joining Google, Adrian had some 15 years of experience in the automotive industry and in management consultancy. Jane Hanson, independent Non-Executive Director and Chair of the Board Risk Committee, who was appointed to the Board in December 2011, will be stepping down from the Board at the conclusion of the Annual General Meeting in May 2021 after having served as a Non-Executive Director for over nine years. Richard Ward, Senior Independent Director, will become a member of the Remuneration Committee with effect from 1 January 2021. Fiona McBain, independent Non-Executive Director, will become a member of the Investment Committee, also with effect from 1 January 2021. Duyuru • Dec 19
Direct Line Insurance Group plc, Annual General Meeting, May 13, 2021 Direct Line Insurance Group plc, Annual General Meeting, May 13, 2021. Is New 90 Day High Low • Oct 29
New 90-day low: €2.90 The company is down 11% from its price of €3.25 on 30 July 2020. The German market is down 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Insurance industry, which is down 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.85 per share. Duyuru • Oct 27
Direct Line Insurance Group plc Announces Appointments to Board Committees The Board of Direct Line Insurance Group plc announced that it has resolved to make the following appointments with immediate effect: Danuta Gray, Chair of the Board, is appointed as Chair of the Nomination & Governance Committee; Mark Gregory, independent Non-Executive Director, is appointed as interim Chair of the Remuneration Committee; and Sebastian James, independent Non-Executive Director, is appointed as a member of the Nomination & Governance Committee. Is New 90 Day High Low • Sep 30
New 90-day low: €2.94 The company is down 3.0% from its price of €3.02 on 02 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Insurance industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.20 per share. Duyuru • Jul 17
Direct Line Insurance Group plc (LSE:DLG) agreed to acquire Brolly UK Technology Limited. Direct Line Insurance Group plc (LSE:DLG) agreed to acquire Brolly UK Technology Limited on July 16, 2020. As part of the transaction, Phoebe Hugh and team of Brolly UK Technology Limited will join Direct Line Insurance Group plc. The transaction is conditional and expected to complete in third quarter of 2020. 
