DIRECT Line reiterated plans to make £100 million cost savings annually which it signalled will involve job losses as the insurer set out its stall ahead of the planned flotation of the business by Royal Bank of Scotland.
DIRECT Line reiterated plans to make £100 million cost savings annually which it signalled will involve job losses as the insurer set out its stall ahead of the planned flotation of the business by Royal Bank of Scotland.
Custom byline text:
Mark Williamson
Announcing that first half operating profits increased by 7% annually, Direct Line said it has launched cost-saving initiatives that will involve it cutting administration costs in central functions and improving marketing efficiency.
Based in Bromley, Kent, Direct Line hopes to boost returns on equity to 15% from 10.2% following separation from RBS.
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