Share Name Share Symbol Market Type Share ISIN Share Description
Direct Line Insurance Group Plc LSE:DLG London Ordinary Share GB00BY9D0Y18 ORD 10 10/11P
  Price Change % Change Share Price Shares Traded Last Trade
  -3.50 -1.96% 175.30 5,032,098 12:19:05
Bid Price Offer Price High Price Low Price Open Price
175.25 175.45 181.85 175.20 181.85
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonlife Insurance 3,247.70 446.00 24.50 7.2 2,299
Last Trade Time Trade Type Trade Size Trade Price Currency
12:19:06 O 50 175.45 GBX

Direct Line Insurance (DLG) Latest News (6)

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Direct Line Insurance Investors    Direct Line Insurance Takeover Rumours

Direct Line Insurance (DLG) Discussions and Chat

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Date Time Title Posts
27/1/202310:22DLG Moderated Thread512
24/1/202308:04Direct Line......2,782
05/12/201907:14Ideas Anyone?1
01/8/201800:53Direct Line (DLG) One to Watch on Wednesday -
09/11/201612:51*** Direct Line ***218

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Posted at 27/1/2023 08:20 by Direct Line Insurance Daily Update
Direct Line Insurance Group Plc is listed in the Nonlife Insurance sector of the London Stock Exchange with ticker DLG. The last closing price for Direct Line Insurance was 178.80p.
Direct Line Insurance Group Plc has a 4 week average price of 162.20p and a 12 week average price of 162.20p.
The 1 year high share price is 312.70p while the 1 year low share price is currently 162.20p.
There are currently 1,311,388,157 shares in issue and the average daily traded volume is 10,643,371 shares. The market capitalisation of Direct Line Insurance Group Plc is £2,302,141,909.61.
Posted at 27/1/2023 09:49 by yump
You can see the deterioration if you look at a longer term chart. I made the mistake of buying when the highs were gradually getting lower. Unlike small businesses where developments can change prospects quickly, I guess the chart was showing what investors generally thought of DLG.

Either the whole GI insurance area was becoming more difficult, or DLG were gradually losing the plot.

I should have looked closer - financials have been deteriorating for a long time - same revenue - falling profits and not the secure dividend that it might have appeared.

Whatever the brokers or analysts say, I reckon with larger businesses if you see a gradual dropping share price over years, then the funds and ii’s are selling down.

Posted at 25/1/2023 12:14 by wba1
Hi p0pper. I am happy to see Aviva doing well as I still own about 70% of my original holding. They are benefitting from a diverse business.

I thought I would remind myself of a few things relevant to DLG. I have said elsewhere (on the other DLG thread - I sometimes get on the wrong one) that I think a share price below 200 is not sensible and that as long as you can take a longer term view (2 years plus) company and market recovery should ensure a decent return. The first thing I could not recall was the situation of the Bain takeover of Esure in 2018. Bain paid £1.2 billion for a company which has a similar model to DLG and which had, if anything, more challenges. It had circa £800m of GWP at the time which is about a quarter of DLGs size and Esure was less diversified. It had major performance issues which meant it declared a COR of 112% for 2018 and was still at 101% in 2021, the most recent year declared. So we have a much smaller and riskier company, with known performance issues which attracted a price of more than half the current DLG market cap of £2.3 billion.

I know that times are different and buyer appetites may have changed, but those comparative valuations make no sense, especially as Esure was a private equity takeover with none of the potential synergies available to a trade sale. As I mentioned at the time on the other thread, I bought on 11 January and will now tuck them away for 2-3 years unless they recover swiftly to above the 200 mark, in which case I will decide whether to take profit on all or some.

Posted at 11/1/2023 17:34 by wba1
I must admit surprise at the trading update. Whilst some deterioration was to be expected the scale goes beyond what is easily explained. Specifically;

- the December cold snap did not help but should be no more than an irritant.
- the forecast COR suggests they do not have reserve fat to smooth results yet they did no reserve strengthening at the last set of results. When they next publish results it will be informative to see the movements in prior years.

A failure to spot this earlier and either build reserves or act last year makes the position of Penny James completely untenable. I assume that is a discussion already going on in the board. However, I have added this morning. I have said before that I do not believe a share price below 200 is sustainable and I stick to that view. The value in the business, both its activity and brands, would make it easy to extract a decent return for a trade predator at that price and whilst I have no knowledge of anyone circling it would be surprising if the likes of Allianz and Zurich were not digging out the files for another look. I think I have said before that the renewal lag for making rate changes and earnings pattern means that the results will not improve until 2024. But if you can take a long view the risk is limited and potential is there both for a predator and for market recovery.

Posted at 11/1/2023 13:43 by petersinthemarket
This announcement has been a major blow to income investors, including me. But perhaps I can paint a slightly different picture. The company paid the interim dividend of 7.6p on 11 august 2022, but we have lost a possible final 15p, which would normally have been paid in early April. This represents an annual dividend cut for the current financial year of around 66%. The company has not said all dividends will be lost for the foreseeable future, only this years final, so perhaps they could manage a total dividend of around 8p per share in the next FY. If their share price ends up somewhere near a NAV of 200p, this would represent a yield of 4%. Pension companies would probably still be ok with that, but for many of us it would be too low. So what to do now? Bad news like this always causes an share price overreaction, but I don't relish selling at the bottom. My feeling is that I will hang on for a few days to see whether there is further clarification and/or some level of share price recovery, but I don't expect to be still holding this company for much longer.
Posted at 11/1/2023 13:18 by jugears
Pander & why not the markets always over react, look at bdev there trading up date wasn't the best & house builders shares have gone up!,Dlg is a heavily traded share & that will determine where the share price goes not profits & dividends! so when it has fallen substantially of course people will buy in to that,should see £1.80 plus by end of week IMO.
Posted at 11/1/2023 09:34 by spectoacc
Suggest the down-tickers read:

"..Consistent with our track record of delivering returns for shareholders"

in conjunction with DLG's share price chart over 1, 3, 5, and 10 years.

What, I'm not including reinvested divis? Indeed. But from here, what dvidend?

Posted at 11/1/2023 08:40 by andydaf
There will be a time to buy DLG just not sure its now.Recovery will more than likely come but insurers are valued by their dividend yield.I will be keeping a close eye on DLG going forwards for a bit of bottom fishing.Big problems at DLG with risk and pricing.Daughter was with them up until renewal yeaterday.No accidents and DLG wanted 700quid more than hastings.GLA
Posted at 08/1/2023 18:00 by jubberjim
Latest recommendations from motley Fool

Include Dlg Mng so will be happy to wait for inevitable slide in share price

Happy to hold adm after selling dlg but equally happy to swap back when suitable

Similarly phnx held against mng sell

Barc held in preference to lloy sell

The only wirries are both Aviva and lgen get tipped as buys and hope very disappointed with how my pensions invested with these two stalwarts have been slaughtered in the past couple of years doesn't seem to have affected share price so will continue to hold albeit with severe doubts and misgivings will look again nearer results

Good luck everyone

Posted at 05/8/2022 14:29 by wba1
A bid is an interesting question at this level. Hastings were taken over for £1.8bn in 2019 and their GWP is about a third of DLG's and with an even greater focus on private motor. I know that their pricing capabilities were (and still are) below DLG and that their claims reserving has been less conservative (meaning DLG has more fat in reserves). With DLG currently valued at £2.7bn it does suggest either Sampo overpaid for Hastings or that any bid for DLG would need to be around the 300p level at least.
Having said that, it is only relevant if there is a bidder and I do not expect the DLG price to go beyond the 230p level without some reason. Current share price levels are driven by the perception of the wider insurance market as under pressure and the Sabre effect which has analysts wondering if others may be under reserved. But for the longer term the current price seems to include any wider market risk and offer considerable upside as the insurance market recovers or if a bidder emerges.

Posted at 06/5/2022 12:46 by kenmitch

As fenners66 posted, there have been many far more wasteful buybacks.

One of the worst was after Whitbread sold their Costa business to CocaCola for about £4 BILLION. Nearly all that £4 billion was profit.

Whitbread Management decided to “reward their shareholders” by spending nearly all of that £4 billion on share buybacks, mostly around £40. The share price never again reached that £40 level and is now at £27. That’s a very impressive waste of money compared with the current £100 million being thrown away by Direct line on their current buybacks. And btw instead of that so called “reward” Whitbread shareholders ended up with no share price gain at all and a big LOSS of their capital too.

The theory behind buybacks sounds convincing but often the experience is disastrous for shareholders....except for those who take advantage of the willing buyer (e.g Whitbread) to sell ahead of the subsequent share price falls.

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