Morningstar - Direct Line Insurance Group Plc (DLG) Direct Line Reports 2018 Results; We Still Dont Like Outlook for Sector

Report

Morningstar

Henry Heathfield

EUR 100.00 For Business Accounts Only

Direct Line Reports 2018 Results; We Still Don't Like Outlook for Sector

Direct Line Insurance Group reported full-year results with profit before tax of GBP 583 million, slightly above our full-year estimate. This is higher than the GBP 539 million of the prior year. Gross written premium was down at GBP 3.2 billion versus GBP 3.4 billion, but the business achieved 180-basis-point growth in gross written premium coming from its own brands. We will maintain our fair value estimate for the time being while we roll our valuation model, but we think there are some warni...

05/03/2019 12 EN

Underlying

Direct Line Insurance Group Plc

Direct Line Insurance Group is a personal and small business general insurer in the U.K. Co.'s principal activity is managing its investments in subsidiaries, providing loans to those subsidiaries, raising funds, and the receipt and payment of dividends. Co.'s segments are Motor, which consists of personal motor insurance together with the associated legal protection cover; Home, which consists of home insurance together with associated legal protection cover; Rescue and other personal lines, which consists of rescue products, and other personal lines insurance, including travel, pet and creditor; and Commercial, which consists of commercial insurance for small and medium-size entities.

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GB00BY9D0Y18 London Stock Exchange United Kingdom

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Henry Heathfield

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Direct Line Reports 2018 Results; We Still Don't Like Outlook for Sector

Direct Line Insurance Group: 1 director

Form 8.3 - The Vanguard Group, Inc.: Direct Line Insurance Group plc

Form 8.3 - The Vanguard Group, Inc.: Direct Line Insurance Group plc

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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