Since the second half of last year, Direct Line has achieved three consecutive quarters with positive profits. The insurance company, led by Patricia Ayuela, closed the month of March with net profits of 10.1 million euros, a significant improvement from losses of 5.3 million in the same period last year. This positive trend is attributed to improved margins resulting from better client selection and revised insurance rates, as well as more efficient claims management.
As a result, Direct Line’s shares rose slightly over 2%, consolidating an overall advance of 13% for the year. The company’s Household and Health branches also saw growth in premiums issued and insured individuals, showcasing a well-rounded performance across all business segments. Premiums for all business lines, including Motor, Home, and Health, saw positive growth.
CEO Ayuela expressed optimism about the company’s future prospects, citing a solid improvement in margins and profits as confirmation of a positive change in the business cycle. Direct Line’s Auto branch saw a notable reduction in combined ratio, indicating improved financial health and business efficiency. With a strong financial position and positive performance across all business lines, Direct Line is poised for continued success in the future.
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