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Record weather payouts ruin year for Direct Line
Evening Standard
|March 13, 2023
INSURER Direct Line fell deep into the red last year in an “annus horribilis” as it was hit by record bad weather-related claims and the soaring cost of repairing cars.
Shares slumped more than 7% as the FTSE-250 company revealed the scale of its setbacks in 2022. The December big freeze was the biggest driver of £149 million in weather-related claims, with £95 million resulting from the prolonged cold snap alone — more than the total of £73 million the company budgeted for the year as a whole. It was the most paid out for weather-related claims since Direct Line listed on the London stock market over a decade ago.
Denne historien er fra March 13, 2023-utgaven av Evening Standard.
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