Direct Line Group saw own-brand motor customer numbers fall in its first quarter, as price hikes drove some policyowners away but delivered double-digit premium growth. 'Strip out the relatively new partnership with Motabilty, and Direct Line saw 434,000 motor customers walk out the door. Direct Line said motor volumes came in lower, as expected, amid 'continued repricing of the motor book', while policies for its home own brands, Motability and Direct Line, saw 'modest growth'. Britzman of Hargreaves, added: 'There’s still a long way to go if Direct Line wants to return a stable dividend and restore investor confidence. But there’s a lot to do if Direct Line wants to challenge some of the best operators in the sector.

Source: Daily Mail May 08, 2024 18:41 UTC