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Prices & Quotes - UK Markets - Direct Line Insurance Group (DLG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 298.30p
Change Today:
4.90p
Market Cap:
4,035.65m
Sector:
Insurance (non-life)

Direct Line unveils 100m buyback after profit drop

By Sean Farrell

Date: Monday 08 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Direct Line increased its dividend and announced a 100m share buyback as the insurer reported a 4.5% drop in annual profit.
Operating profit fell to 522.1m from 546.9m in the year to the end of December as gross written premiums dipped 0.7% to 3.18bn. The FTSE 250 insurerr increased its final dividend by 2.8% to 14.7p a share and said it would buy back up to 100m of shares.

Profit fell mainly because of an increase in major weather costs to 43m from 6m. Covid-19 was a modest net benefit as lower motor and commercial claims were partly offset by the impact on Direct Line's travel business, the cost of protection against the disease and lower investment returns.

Chief Executive Penny James said: "Despite the many challenges we faced in the year as a result of the Covid-19 pandemic, we traded well and prioritised support for our customers, our people and local communities. 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."

James said profitability was improving in the current year through higher prices and better underwriting in commercial and improved counter-fraud measures at the motor business. She said Direct Line had launched a property strategy to rethink how it uses its offices in light of the pandemic.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

DLG Market Data

Currency UK Pounds
Price 298.30p
Change Today 4.90p
52 Week High 342.00p
52 Week Low 263.00p
Volume 2,046,231
Shares Issued 1,352.88m
Market Cap 4,035.65m
Beta 0.01

Performance Indicators

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What The Brokers Say

Strong Buy 13
Buy 2
Neutral 1
Sell 0
Strong Sell 1
Total 17
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

DLG Dividends

  Latest Previous
  Final Special
Ex-Div 08-Apr-21 13-Aug-20
Paid 20-May-21 04-Sep-20
Amount 14.70p 14.40p

Trades for 14-May-2021

Time Volume / Share Price
16:35 753,773 @ 298.30p
16:29 9 @ 299.00p
16:29 750 @ 299.00p
16:29 215 @ 299.00p
16:29 264 @ 299.00p

DLG Key Personnel

Chair Danuta Gray
CEO Penny James