DLG to exit or stop investing in range of personal lines sectors

Direct Line Group (DLG) has revealed that it will exit or stop investing in a range of personal lines sectors as part of its new strategy.

Following chief executive Adam Winslow coming onboard in March 2024, the group has announced a refreshed strategy as it looks to deliver profitable growth.

As part of this, DLG said it would focus on its motor, home, commercial direct and rescue businesses.

However, the firm revealed that it had decided to exit or stop investing in other personal lines businesses, such as pet and travel.

“Our refreshed strategy will be delivered by our new executive team, who have significant expertise in our core markets,” Winslow said.

“The strategy and targets set out today signal our ambition and intention to grow our business and deliver strong returns for our shareholders.”

PCW

Meanwhile, DLG has also revealed that it will be putting its signature brand Direct Line on PCWs – a channel it said 90% of consumers shop.

The group said the decision “gives us confidence in our ambition to rejoin the front runners in UK motor insurance and drive sustained profitable growth”.

“Today, we have set out our strategy and clear targets designed to position DLG as the customers’ insurer of choice,” Winslow added.

“Since joining DLG just over four months ago, I have rigorously reviewed our business and listened carefully to investors, customers, and employees.

“This work has deepened my belief in our strong foundations and excellent potential.

“Putting our strongest brand, Direct Line, on price comparison websites, where 90% of consumers shop, means we will be shaking up the motor insurance market once again.”