Uk Insurance Company

The organization was once originally headquartered in 1985 with the aid of Peter wooden and Martin lengthy because the insurance division of The Royal bank of Scotland group (RBS).[5] It was the primary cellphone-handiest insurance corporation within the UK.[5] In September 2012, the crew's Chief executive, Paul Geddes, announced the industry was once "running as a standalone insurance corporation", upfront of a future full divestment from the RBS staff.[6] The manufacturer used to be the subject of an initial public delivering (IPO) in October 2012.[7] RBS offered a 30% share of the industry in the IPO, and sold another 17% in March 2013, decreasing its maintaining in the business to forty eight.5%.[8] RBS sold another 20% in September 2013,[9] and sold the the rest of its holding in February 2014.[10]

Direct Line offered its TRACKER network UK telematics business to the private fairness firm Lysanda in February 2014.[11]

In September 2014, it used to be introduced that Mapfre would accumulate the Italian and German corporations of Direct Line for a sum of €550 million.[12]