Direct Line Insurance Group PLC (LSE:DLG)
£ 2.024 -0.008 (-0.4%) Market Cap: 2.58 Bil Enterprise Value: 1.25 Bil PE Ratio: 12.67 PB Ratio: 1.08 GF Score: 73/100

Half Year 2023 Direct Line Insurance Group PLC Earnings Call Transcript

Sep 07, 2023 / 08:30AM GMT
Release Date Price: £1.74 (+15.82%)
Operator

Good morning, and welcome to the Direct Line Half Year Results 2023 Conference Call. My name is Carla, and I will be the operator of today's call. (Operator Instructions)

I would now like to pass the conference over to our host, Jon Greenwood, Acting CEO, to begin. Jon, please go ahead when you're ready.

Jonathan Paul Greenwood
Direct Line Insurance Group plc - Acting CEO, Chief Commercial Officer & Director

Good morning, everyone. Back in March, I told you that our key priorities were to restore our capital resilience, improve our performance in Motor and maintain the performance in our other businesses. Over the past 6 months, we've taken decisive action to address each of these and put the group back on a stable footing.

Firstly, we've reached agreement to sell our commercial brokered business to RSA. This transaction will strengthen the group, both strategically and financially, and is forecast to improve our solvency ratio by around 45 points to above 190%.

In Motor, the first half earnings are clearly not at an acceptable

Already have an account? Log in
Get the full story
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot