8th May 2022

Direct LIne reports first quarter progress

Penny James, ceo, Direct LIne Group, comments:
“In an important quarter for Motor and Home markets, prices adjusted for the introduction of the FCA Pricing Practices review, but we believe have not fully reflected claims inflation. In this context, we achieved a lot, pushing forward key elements of the strategy, increasing customer retention in Motor and Home and delivering double-digit growth in Commercial. Trading was broadly in line with our expectations.
Looking forward, we are focused on driving benefits from our new Motor platform and continue to deliver significant new pricing capability, including machine learning models, with more to come through the rest of the year.
The disciplined approach we have taken during Q1 and the operational progress we have made mean we can reiterate our combined operating ratio target of 93 to 95 in 2022.”

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