Direct Line
The Direct Line Group is an affiliate of the Royal Bank of Scotland, and covers a range of financial services focused on insurance services.
The company was founded in 1985 with the aim of selling car insurance directly over the phone, and has since grown to be one of the UK's largest car insurers.
Other insurance services provided by Direct Line include:
- Pet Insurance
- Travel Insurance
- Life Insurance
Direct Line now also sells mortgages, loans, and savings products, as well as providing car breakdown cover and even selling cars online.
Latest Direct Line News:
RBS holds out for full price on insurance business
by Gill Montia
Story link: RBS holds out for full price on insurance business
In a statement following Royal Bank of Scotland’s (RBS) successful fundraising (in the form of a £12 billion rights issue), the group’s chief executive, Sir Fred Goodwin, said that he is confident of getting a full price for the group’s insurance business.
RBS was caught short when the credit squeeze turned into a crisis because of […]
Ping An withdraws from RBS Insurance sale
by Gill Montia
Story link: Ping An withdraws from RBS Insurance sale
Bidders for Royal Bank of Scotland’s (RBS) insurance business are now down to five.
Ping An, has withdrawn from the contest, leaving Zurich, Allstate, Travelers, AIG and Allianz to battle it out.
Ping An had been tipped as a strong candidate for a successful acquisition of the business, which could have provided the Chinese insurer with opportunities […]
Churchill and Direct Line bidders line up
by Gill Montia
Story link: Churchill and Direct Line bidders line up
Royal Bank of Scotland’s (RBS) auction of its insurance businesses, which include Churchill and Direct Line, is reported to have attracted seven bidders so far.
The bank’s advisers, Goldman Sachs and Merrill Lynch, have excluded private equity firms from the sale, which is expected to raise around £6 billion.
Zurich, Allianz and Generali of Italy are thought […]
Direct Line launches hotelier policy
by Gill Montia
Story link: Direct Line launches hotelier policy
Direct Line has expanded its Direct Line for Business brand with the launch of a policy aimed at owners of small hotels, guesthouses and bed & breakfast establishments.
Applicants will need to be operating from one property and providing accommodation in a maximum of 12 rooms.
Cover includes public and products liability of up to £2 million […]
Bankinter approaches RBS on sale of Linea Directa
by Gill Montia
Story link: Bankinter approaches RBS on sale of Linea Directa
Royal Bank of Scotland (RBS) is reported to have been approached by Bankinter of Spain about the sale of its stake in Linea Directa, the Spanish insurance business held as a 50/50 joint venture between both banks.
RBS is auctioning its insurance operations in efforts to raise around £4 billion to improve its capital position. The […]
RBS considers sale of Direct Line and Churchill
by Gill Montia
Story link: RBS considers sale of Direct Line and Churchill
The future of Direct Line and Churchill hang in the balance as their owner, Royal Bank of Scotland (RBS), considers means of raising new capital.
Last week, RBS shareholders were surprised and angered by reports that the bank was planning a deeply discounted rights issue.
Only last month, RBS chief executive, Sir Fred Goodwin, strongly denied suggestions […]
Insurers withdraw cover for Terminal 5 travellers
by Gill Montia
Story link: Insurers withdraw cover for Terminal 5 travellers
Travellers passing through Heathrow’s Terminal 5 may experience difficulties purchasing insurance for flight delays and lost baggage.
A number of companies are withdrawing cover for those using the £4.3 billion terminal, which has seen various states of chaos since it opened on 27th March.
Problems with baggage handling have led to record baggage mounds plus flight delays […]
Direct Line unveils insurance to protect small businesses
by Richard Kilner
Story link: Direct Line unveils insurance to protect small businesses
A new range of business insurance products has been unveiled by Direct Line.
The new range is designed to cater to small businesses, and provide them with comprehensive coverage.
Small businesses can be more vulnerable than their larger counterparts, as a single unfortunate incident such as fire can cause damage to the entire firm.
With the release of […]
Direct Line accused of mistreating loyal customers
by Gill Montia
Story link: Direct Line accused of mistreating loyal customers
Direct Line has been taken to task by a national newspaper which suggests that the firm is taking unfair advantage of its loyal customers.
According to a report in The Guardian, the company is issuing renewal premiums significantly above the rates than can be purchased online.
One Direct Line customer claims to have been quoted a renewal […]
Direct Line Boosts Business Product Portfolio
by Stewart Douglas
Story link: Direct Line Boosts Business Product Portfolio
Leading insurer Direct Line has today announced two further product lines within its new commercial product catalogue, which has seen it move from an exclusively consumer-driven insurer into more lucrative commercial markets, mainly at the small to medium business niche.
The announcement today saw the launch of the commercial property and shop cover products, which will […]
Direct Line Buy To Let Product To Be Released
by Stewart Douglas
Story link: Direct Line Buy To Let Product To Be Released
Direct Line insurance has today announced it has launched an insurance policy designed specifically for owners of buy to let property investments, targeting those with medium sized investment portfolios in the short term.
The policy is designed to reflect the growing trend towards buy to let as a business model, and is designed to provide cover […]
BIBA sceptical of household premium rises
by Gill Montia
Story link: BIBA sceptical of household premium rises
BIBA, the trade association of general insurance brokers, has criticised the decisions by some insurers to increase their household premiums.
It has described the increases as opportunistic and as a knee jerk reaction to this summer’s floods.
The association is reminding consumers that the market for home insurance is very competitive, and that is has yet to […]
ABI gives flood claim update
by Gill Montia
Story link: ABI gives flood claim update
The Association of British Insurers (ABI) has reported that the insurance industry is currently handling over 50,000 claims resulting from the flooding in June and July.
Claims for the July floods currently stand at 12,000 for homes, and 3,500 for businesses.
Experts believe that the cost of the damage caused by the July floods is likely to […]
Flood damage to exceed £2bn but premium rises unlikely
by Gill Montia
Story link: Flood damage to exceed £2bn but premium rises unlikely
The insurance industry is now predicting that claims for flood damage this summer could exceed £2 billion.
The Association of British Insurers’ (ABI) estimate for the June flooding stood at £1.5 billion and this combined with the damaged caused by the July floods is certain to make 2007 the worst year for the industry since 1990, […]
