Direct Line Group plc is a UK insurance company, formed in 2012 by divestment division of The Royal Bank of Scotland Group (RBS) through an initial public offering. The Company has a number of insurance subsidiaries that provide various insurance products, including Direct Line and Churchill, as well as roadside assistance and vehicle recovery providers, Bendera Hijau.
The Group is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Video Direct Line Group
History
The company was originally founded in 1985 by Peter Wood and Martin Long as the insurance division of The Royal Bank of Scotland Group (RBS). This is the first telephone insurance company in the UK. In September 2012, Group chief executive Paul Geddes announced the business "operates as a stand-alone insurance company", before the future of the full divestment of the RBS Group. The company became the subject of an initial public offering (IPO) in October 2012. RBS sold 30% of its shares in the IPO, and sold another 17% in March 2013, reducing its ownership in the business to 48.5%. RBS is sold for a further 20% by September 2013, and sold the remainder of its ownership in February 2014.
Direct Line sells TRACKER Network UK's telematics business to Lysanda's private equity firm in February 2014.
In September 2014, it was announced that Mapfre will acquire the Direct Line business of Italy and Germany for EUR550 million.
Maps Direct Line Group
Operation
The Group has a number of general insurance brands operating in the UK, including Direct Line, Churchill, Privilege, and Green Flags. Direct Line is a company that specializes in the sale of insurance and other financial services, sold directly to consumers by phone and internet.
References
External links
- Official website
Source of the article : Wikipedia
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