Direct Line has falling premium in first quarter and expects claim hit
Direct Line expects to take a £50m hit from the ‘Beast from the East’ - sending shares down 4% this morning.
Direct Line said in a first quarter trading update that claims “associated with the big freeze” in the period were “expected to be in the region of £50m”.
That compares to a £55m set aside for the whole of the 12-month period for home insurance major weather claims and £20m for commercial insurance.
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