13 May 2021 | 08:20am
StockMarketWire.com - Insurance group Direct Line appointed chief strategy officer Neil Manser as chief financial officer after Tim Harris decided to retire as CFO.
Manser had been acting CFO since January 2021, after CFO Tim Harris took a leave of absence while a member of his family undergoes medical treatment.
Harris decided to retire, however, as it is likely that the medical treatment will continue for longer than had been hoped.
As a result, Tim will not seek re-election at the AGM as an executive director today (13 May 2021).
At 8:20am: [LON:DLG] Direct Line Insurance Group PLC share price was 0p at 292.5p
8 March 2021 | 07:59am
StockMarketWire.com - Insurance company Direct Line Insurance announced a £100 million share buyback programme. The company also reported a fall in annual profit amid major weather-related claims and one-off costs.
For the year ended 31 December 2020, pre-tax profit fell by £58.3 million to £451.4 million as gross written premiums fell 0.7% to £3.18 billion.
Major weather costs increased to £43.0 million from £6.0 million.
The combined operating ratio rose to 90.3% from 86.9% due to a reduction in prior-year reserve releases.
The final dividend proposed of 14.7 pence per share, represented an increase of 2.1%, and the company announced a a share buyback programme of up to £100 million. Turning to the year ahead, we feel confident that we can build on the momentum we ve created and become a tech and data driven insurance company of the future with our customers at its heart, the company said.