Direct Line Group loses 434k motor insurance customers due to 38% premium increase to £515.

Direct Line Group lost 434k motor insurance customers due to a 38% premium increase to £515. Motor insurance premiums increased by 35%, averaging £599. The company attributes the challenges to extreme weather and escalating claim costs, resulting in a 2% drop in shares. Despite the loss, the insurer aims to achieve £100m in cost savings by 2025 and a net insurance margin of 13% in 2026.