Direct Line Is an Average Insurer in a Relatively Bad Personal Lines Marketplace
We believe Direct Line Insurance Group is an average insurer operating in the highly commoditised U.K. personal lines insurance market. Our fair value estimate is GBX 240 per share, and we are initiating with no-moat and stable moat trend ratings.Direct Lines was incorporated in 1988 as the first pure-play direct distribution personal lines insurer in the United Kingdom, selling motor and home policies by the telephone. The market has moved on in recent years, however, and is now dominated by p...
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.
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.
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