Direct Line gets in shape for float

James Ashton
September 2012
Evening Standard;9/3/2012, p39
DIRECT Line Insurance moved a step closer to a float today, when it said it expected future profitability to soar. Britain's largest motor insurer is being sold off by Royal Bank of Scotland, in a float that could value it at �3 billion, as a condition of RBS taking government rescue funds. First-half operating profits were up 7% to �224 million, with pre-tax profit down 43% to �106.5 million.


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