BREAKING NEWS

BREAKING NEWS

UK's Direct Line sees full-year profit better than market expectations

Now Reading:

UK's Direct Line sees full-year profit better than market expectations

Text size Aa Aa

(Reuters) – Britain’s largest motor insurer Direct Line Insurance Group <DLGD.L> 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, Green Flag and Privilege, 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 benefited from lower than expected weather claims, it said on Friday.

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.

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

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.