Direct Line coverage organization percent stated 2014 pretax
profit that overlooked analyst estimates because the British domestic and
automobile insurer wrote much less premiums.
Pretax earnings for continuing operations rose 12 percent to
456.eight million pounds ($702.eight million) in the 12 months to Dec. 31, the
organization said. That missed the 472.nine million-pound estimate of 12
analysts surveyed by means of Bloomberg. Gross written charges fell 3.8
percentage to 3.1 billion kilos.
“The U.k. motor and domestic markets remain pretty
aggressive,” leader executive Officer Paul Geddes stated in the assertion.
“Early 2015 has visible a few additional, probably seasonal, market pressure in
motor and vast balance in the domestic market.”
The insurer stated it met or handed all of its goals set at
the time of an preliminary public providing in 2012, which includes a value
base of 1 billion pounds with the aid of 2014. Geddes bought the company’s
German and Italian corporations to Spain’s largest insurer MAPFRE SA for 550
million euros ($616 million) in September, with the proceeds anticipated to be
back to shareholders.
Direct Line elevated its final dividend four.eight
percentage to 8.8 pence a proportion and a 2d special period in-between
dividend of 4 pence. Its combined operating ratio of 95 percentage was 0.2
percentage factors lower than 2013, aided by way of 397.6 million pounds of
reserve releases.
No comments:
Post a Comment