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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Direct Line Insurance Group PLC    DLG   GB00BY9D0Y18

DIRECT LINE INSURANCE GROUP PLC (DLG)
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Direct Line Insurance : sees 2017 profit topping market view

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02/09/2018 | 02:19pm CET

(Reuters) - Britain's largest motor insurer Direct Line Insurance Group said on Friday that 2017 pretax profit would rise year-on-year and be ahead of market expectations, helped by favourable claims.

Direct Line, whose brands include Churchill and Green Flag, said it expects to report a profit before tax of about 540 million pounds ($746.23 million) for the year ended Dec. 31.

The company said it benefited from lower than expected weather claims.

The better-than-expected results drove Direct Line shares 2.8 percent higher to 379 pence on Friday.

They were the top gainer on the UK's blue chip index <.FTSE> at 1254 GMT.

Gross written premiums are expected to rise to 3.40 billion pounds for the period from 3.27 billion pounds a year ago, Direct Line said.

Direct Line said it would consider a return of capital to shareholders and would announce it along with its annual results later this month.

Direct Line said it had strong momentum in its motor business, with in-force policies for home and motor under the Direct Line, Churchill and Privilege brands, as well as rescue policies under the Green Flag brand adding 350,000 more customers year-on-year.

RBC Capital Markets said in a client note that Direct Line has a track record of delivery and these results are no exception, adding that any special dividend with the 2017 results could be stronger-than-expected.

The brokerage has an "outperform" rating on the stock with a target price of 435 pence.

The average premium paid for motor insurance in Britain jumped 9 percent in 2017 to the highest level since 2012, the Association of British Insurers (ABI) said in January.

The average premium paid over 2017 was 481 pounds ($671), 40 pounds higher than a year earlier.

(Reporting by Rahul B in Bengaluru; Editing by Bernard Orr)

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Financials ( GBP)
Sales 2017 3 286 M
EBIT 2017 570 M
Net income 2017 394 M
Debt 2017 -
Yield 2017 7,41%
P/E ratio 2017 12,80
P/E ratio 2018 11,88
Capi. / Sales 2017 1,61x
Capi. / Sales 2018 1,58x
Capitalization 5 299 M
Chart DIRECT LINE INSURANCE GROU
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Direct Line Insurance Grou Technical Analysis Chart | DLG | GB00BY9D0Y18 | 4-Traders
Technical analysis trends DIRECT LINE INSURANCE GROU
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 4,25  GBP
Spread / Average Target 10%
EPS Revisions
Managers
NameTitle
Paul Robert Geddes Chief Executive Officer & Executive Director
Michael Nicholas Biggs Chairman
Steven Maddock Chief Operating Officer
Anthony Jonathan Reizenstein Chief Financial Officer & Executive Director
Penelope Jane James CFO-Designate & Executive Director
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