'Major shock to the market' as insurer Direct Line scraps dividend following flood of claims

  • 📰 SkyNews
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 67%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

The company suffers a big hit to its share price after its decision, which it blamed on an almost doubling of expectations for weather-related claims.

Direct Line has seen its shares fall by a quarter after it scrapped its final dividend, blaming a flood of claims related to bad weather in the UK last month.

While motor insurers performed strongly during the COVID pandemic as few customers were driving, inflationary pressures and supply chain issues due to the pandemic and the war in Ukraine have pushed up the cost of repairs. "Things have gone from bad to worse," analysts at Jefferies said in a note, adding they expected the axed final dividend to"come as a major shock to the market".Shares fell by more than 25% in early deals.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.

You would think all insurance companies would be suffering

Electric cars do more damage when they collide because of the weight of batteries. Like driving a tank but without the armour.

Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 35. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Inside four-bed NI property on the market with direct beach accessThis beautiful four-bed detached home in Co Down that offers direct beach access is currently on the market
Fonte: BelfastLive - 🏆 16. / 77 Consulte Mais informação »