PRESSURE on Direct Line shares continued today after the Churchill and Green Flag business revealed the impact of motor claims taking longer to settle.
The insurer said the delays, which have been caused by court backlogs among other factors, slowed the pace it releases prior year reserves.
This means it now expects a full-year operating ratio of 98% or moderately above, whereas an update in July pointed to a better trend on profitability at below 98%.
This story is from the November 08, 2022 edition of Evening Standard.
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This story is from the November 08, 2022 edition of Evening Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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