Direct Line Insurance Share Discussion Threads

[fenners66] 07/9/2023 07:34

Quick glance those results look absolutely awful - hope there is something in the detail I have not read yet ...

[dope007] 07/9/2023 07:27

I never expected a dividend these results

[laurence llewelyn binliner] 07/9/2023 07:15

Results out, NIG sale, and another dividend miss, we will need to wait another 6 months..

[thepopeofchillitown] 06/9/2023 22:05

RSA buying commercial broker business.

[tuftymatt] 05/9/2023 18:55

Let's hope so covid!!

[ajr171166] 05/9/2023 17:00

It's H1 results day shortly

[covid 19 deal] 05/9/2023 14:20

Why its going up????any good news leaked out?????? Is it a time to buy???

[covid 19 deal] 05/9/2023 13:50

Is it a good time to buy?????

[wynterwilde] 04/9/2023 09:39

Boystown

CSN is my major holding and is quietly reliable. If you prefer a more hands on approach, it's possibly not your best bet, but if you can leave well alone and simply wait for the dividends, it's a very good stock.

[boystown] 02/9/2023 10:43

wba1 / CWA1 / others who know what they're talking about - do you have any view on CSN?

It seems to present good value to a non-expert like me.

[wba1] 01/9/2023 12:51

jonnybig; pricing rules are never clear. The obvious questions are around information obtained in the course of insuring a customer which is not available for a new customer (eg returned dd's). Other obvious areas involve some of the sorts of optimised pricing pioneered by the likes of Earnix, the use of prior insurer as a rating factor (clearly not a factor in business already held) and claim details not available through the central database. If they had any doubts they should have clarified them with the regulator but who knows? In my experience the regulator is often unable to answer simple questions. The rules issued by the regulator had a section on information obtained during the process of holding a risk but it is such a load of waffle it can be interpreted in many ways. But, as I said, it will be clear DLG tried to push the boundaries beyond the rules if no other insurer emerges with similar issues.

[jonnybig] 01/9/2023 11:54

The new rules aren't ambiguous at all, they're very clear, and dlg has been overcharging customers. It's so slack it beggars belief.

[wba1] 01/9/2023 11:47

prokartace; I presume you do not have an insurance background? The way premiums are accounted means it takes up to 2 years for increases to feed through to the bottom line (hence my comments that 2025 is the target year for the proper recovery). For increases in January this year they will only affect all business by January 2024 as they only take effect at renewal - with December 2022 business not renewing until December 2023 and then getting the increase. At the point of renewal it then takes a further 12 months to 'earn' the increase as premiums are accounted for on a 365th basis (ie one 365th of the annual premium is earned for each day in the year following renewal). All of this means that the full effect of increases in January 2023 will only be in the 2024 results which are declared in 2025.

Interesting about today's announcement. Either Penny James was even worse than we thought or the new rules were ambiguous. If other major direct writers do not follow with similar announcements I think we can assume Winslow should start with a further clear out. But I remain happy to buy at current levels given the value of the other businesses than retail underwriting and the recovery now underway.

[laurence llewelyn binliner] 01/9/2023 11:33

From a T/A slant that is a very nice uptrend from the beginning of July, and a good looking 2/3 week pennant too, we will soon see if it breaks upwards or not.. :o)

[dope007] 01/9/2023 11:10

Half already recognised so 1.15p a share in reality

[boystown] 01/9/2023 11:06

£30m comes out at 2.31p per share - so the reaction is about right mathematically. It's just whether it demonstrates overall incompetence etc.

[isis] 01/9/2023 10:51

Amazing the amount of people that don't shop around for their bills.

[salpara111] 01/9/2023 10:44

Remarkably subdued share price reaction to the news, perhaps a turning point after all.

[smurfy2001] 01/9/2023 09:50

Whose fault is this and who’s going?

[swiss paul] 01/9/2023 08:21

Sweeping out the cupboard! So is anyones head going to roll for this one, Yep we ost 30 million down the back of the couch, but dont worry we are a well run company and look forwardr to getting our bonuses.

Fetch me the head of a NED

[girvin] 01/9/2023 07:53

A good business with an incredibly incompetent management structure.

[dope007] 01/9/2023 07:43

Poor but not a massive issue this one. New CEO incoming has plenty of low hanging fruit to go at though

[laurence llewelyn binliner] 01/9/2023 07:37

They really are sweeping out the cupboard ahead of the H1 numbers next week, at least half the 30M costs were accounted for in the FY22, so a smaller impact to come in, but pi55 poor to get pricing wrong on top of the claims payouts as well..Our new CEO will have an easier time with making progress and improvements though.. :o)

[cwa1] 01/9/2023 07:27

Looks like the kitchen sinking and skeleton searching operation before the new CEO is in full swing a long time before he even takes office