Direct Line Insurance Share Discussion Threads

[city1911] 28/11/2024 22:21

Yeah sorry. Just noticed your post. What's your view on DLG waiting a week before disclosing the Aviva approach when the requirement is to inform the markets as soon as possible.

[bountyhunter] 28/11/2024 21:56

That's what I just posted! They are options not shares by the way.

[city1911] 28/11/2024 21:52

He owns a lot more than 6000. He was given close to 2.8M when he had to forfeit his Aviva shares stock.

[bountyhunter] 28/11/2024 21:47

Actually he appears to have a shedload, unless I've missed something?

9th April 2024:
Adam Winslow CEO Nil cost options 2,795,397

[bountyhunter] 28/11/2024 21:40

The CFO has a few options, e.g.



Not sure about the CEO re options.

[wheels] 28/11/2024 21:40

Maybe sweeten the share component to 0.33 would do the trick as dlg share holders can share in the synergies etc. Whatever, can't see dlg getting any where near that on their own any time soon.

[justiceforthemany] 28/11/2024 21:32

The CEO of Direct Line holds hardly any stock, only 6,000 shares?
Could this be why they are reluctant to sell.....?

[jrphoenixw2] 28/11/2024 21:16

Some stats today, just posting as they're hard/impossible to find retrospectively...

Move today +41.4% from 158.70 to 224.40p

Hi/Lo today (London Stock Exchange pxs): 230.20/210.20
Volume (^same source): 20.2Mln
Yahoo can be different on volume, but also show an Average volume figure, and here:
Volume 20.2mln Average 3.06Mln, 6.6 times the average.

[bountyhunter] 28/11/2024 20:58

"should Direct Line’s board reject an expected second bid."

Interesting, 260p, 270p, a higher cash component? This could have a way to go yet, but the BoD seem to be over a barrel, probably brushing up on their linked in profiles, although the top two have worked at Aviva previously so could be offered jobs? Maybe my guess of a 5p jump at the open could be an underestimate? Imho. Nai.

[bountyhunter] 28/11/2024 19:29

According to MarketScreener:

Major shareholders: Direct Line Insurance Group PLC
Name Equities % Valuation
FIL Investment Advisors (UK) Ltd.
11.54 %
Fidelity Management & Research Co. LLC
6.517 %
Schroder Investment Management Ltd.
5.904 %
RWC Asset Management LLP
5.008 %
Liontrust Portfolio Management Ltd.
4.990 %
Threadneedle Asset Management Ltd.
4.979 %
Ariel Investments LLC
4.900 %
T. Rowe Price Associates, Inc. (IM)
4.600 %
The Vanguard Group, Inc.
4.372 %
Norges Bank Investment Management
4.171 %



If my quick addition is correct that's over 50%.

I can't see them not voting for Christmas if it comes to it. Imho, nai.

[justiceforthemany] 28/11/2024 19:26

Why are DLG shareholders not rebuking the board for covering up the bid (for the 2nd time)? CEO and board were happy to let shareholders languish at a price 60% below the premium, without any say on the matter.
Contact FCA also.

[wba1] 28/11/2024 19:15

bountyhunter; the names have changed but what has not changed is that the board is a mash up of accountants and salesmen. I have never before come across an insurer without the Group Actuary on the board (or a qualified alternative).

[huckers] 28/11/2024 18:53

Someone has posted a new FT article on the Aviva thread. Worth a read. It hints the bid may go hostile as Aviva have started engaging Direct Lines investors directly.

[bountyhunter] 28/11/2024 18:00

A few things have changed since the previously rejected bids early this year.

"Adam Winslow became Chief Executive Officer of Direct Line Group in March 2024. He brings extensive financial services and insurance expertise gained over 20+ years in the sector. He joined Direct Line Group from Aviva, where he was CEO, UK & Ireland General Insurance."

"Direct Line Group (the “Group”) is pleased to announce that Jane Poole is to be appointed as Group Chief Financial Officer of the Company, subject to regulatory approval. Jane will join the Board in October 2024, succeeding Neil Manser who has been in post since January 2021.

Jane is a highly experienced CFO with extensive general insurance knowledge following a long and successful career building high performance teams in the financial services industry. Since 2021, she has been CFO for Aviva’s UK and Ireland General Insurance business, driving business performance and improving profitability"

[sellhighandbuylow] 28/11/2024 17:57

The DLG share price now, is only back to where it was in Jan 2023.

The problem is, if the "bid premium" evaporates then the DLG share price is heading South again.

[carpingtris] 28/11/2024 17:51

Doubt it and surely that would put AV. In the same boat.. pretty sure they'd all be clued up enough to not go down that route.

[yump] 28/11/2024 17:45

Won’t delayed disclosure run them into serious trouble with the FCA, seeing as it is material. (Whether or not anyone benefitted).

[jugears] 28/11/2024 16:55

As you know not normal practice for me but don't see any point hanging on for more & prefer Aviva anyway so with them dropping today its given me the opportunity to add to my existing shares & TBF I think its very underhand not to tell your share holders that you've had a takeover offer, I am sure someone at dlg has done well out of it.

[bountyhunter] 28/11/2024 16:52

"...in the UK, the extra value that a buyer needs to offer to win backing for a takeover has been rising. In local parlance, 40 is the new 30 — indicating that the benchmark premium required to even merit attention has moved up by some 10 percentage points simply to reflect the FTSE’s perceived undervaluation..."

[1carus] 28/11/2024 16:44

Crikey Jug... that is almost trading for you!! ;-)

[jugears] 28/11/2024 16:10

I had 10 vehicle policies with this company 2 years ago, when they came up for renewal they were nearly double the price, when I said I had got prices elsewhere similar to my previous year they didn't even want to be bothered to look at prices, its ok wanting to squeeze more from your customers if your customers want to pay more but they don't! IMEO they have priced themselves out of the market, I'm exceptionally pleased with my profit here but just not worth holding on for a bit more because I don't think its worth it, never pays to be greedy!

[cogs1] 28/11/2024 16:08

I chose to drop out at 2.22 on this one. Decent return for me and don't want to risk a repeat of the potential deal falling through. Time to move onto the next one. Good luck to all those still hanging in there hope it works out.