Direct Line Group
Editor's comment: Wedding bells are ringing
Direct Line Group's confirmation on Friday of the intentions to make an honest woman of itself, by declaring its intention to formally proceed with an IPO suitor, has certainly injected a little feverish anticipation into the UK insurance market.
Insurance Fraud Register to be accessible to life and Lloyd's markets
The Insurance Fraud Register is to be rolled out to the life insurance and Lloyd's markets once it is fully operational in the UK general insurance sector.
DLG bosses to collect millions after IPO
Direct Line Group bosses are set to pocket millions of pounds in shares when the insurance asset floats on the London Stock Exchange.
DLG private equity bids still possible, says analyst
Analysts believe there is still a "good chance" that a private equity bid for Direct Line Group may emerge, despite RBS this morning stating its intention to float.
Geddes: DLG in great shape and ready to float
Direct Line Group chief executive Paul Geddes has told Post that the business is now “in great shape and ready to go to the market” while setting out targets to improve profitability by 2014.
Former Prudential director joins Direct Line
Priscilla Vacassin has been appointed as a non-executive director of Direct Line Group.
DLG confirms intention to float
Direct Line Group has issued a statement confirming its intention to proceed with an initial public offering.
Market moves: High-profile changes at Allianz, Zurich and Towergate
The industry witnessed a number of major departures this week with Chris Hanks, Karl Bedlow and Nick Houghton leaving their roles at Allianz, Zurich and Towergate respectively.
DLG to offshore roles as part of £100m annual cost savings drive
Direct Line Group is set to offshore a "limited number" of chief operating office and sales, service and partnership roles as it begins to cut hundreds of UK jobs ahead of a planned flotation.
Groupama acquisition could propel Ageas UK into top 10 insurer spot
The insurance industry is considering the effect of consolidation and change in the UK personal lines market after Ageas entered into exclusive discussions with Groupama with a view to taking over its UK insurance company.
Post magazine - 13 September 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Tungsten evaluating Equity bid
The investment vehicle, helmed by Edmund Truell, is believed to be considering an offer for the IAG-owned insures.
RBS could float DLG tomorrow
RBS is to launch an initial public offering of Direct Line Group on Thursday, reports have suggested.
Truell eyes up motor insurers
Edmund Truell, founder of Duke Street Capital and Pension Corporation, has not ruled out a future bid for Royal Bank of Scotland's insurance arm, Direct Line.
Claims Club 10th anniversary: A decade of debate
The Post Claims Club will mark its 10th anniversary next year, and the group's advisory board looks back on a decade of change.
Direct Line Group posts 7% profit increase in first results as standalone
As the deadline for Direct Line Group's anticipated flotation approaches, the insurance business posted a 7% jump in operating profit to £224.2m for the first six months of the year and revealed it has set a target of 15% return on tangible equity.
Post magazine - 6 September 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Direct Line confirms redundancies
Direct Line Group has confirmed approximately 890 proposed redundancies across the business as part of a drive to cut costs by £100m.
Up to 900 roles at risk under £100m DLG cost-saving bid
Up to 900 roles are at risk at the Direct Line Group, with a full site closure of its Teeside office being proposed, Post understands, as it today reveals the scale of redundancies necessary to achieve its £100m cost savings target.
Miller non-exec joins Direct Line Group board
Clare Thompson, a non-executive director on Miller's partnership board, is to join Direct Line Group's board in a similar role.
DLG 'essentially' operating as a standalone business, claims Geddes
Direct Line Group chief executive Paul Geddes believes the business has "essentially achieved its goal" of operating as a standalone company, following the news it has set a return on tangible equity target of 15%.
Direct Line flotation is imminent
Direct Line Group's initial public offering could launch in a "matter of weeks".
DLG revamps claims management system
Direct Line Group has taken another step towards revamping its claims business by launching the next phase in its end-to-end claims management system.
Statement of Principles extension mooted as flood solution sticking plaster
Extending the Statement of Principles may have to be explored as a stopgap if discussions between industry and the government over a long-term flood risk solution rumble on, despite insurers insisting that they will not back down in this way.