Moody’s downgrades Direct Line’s outlook to ‘negative’ after dividend dropped
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Moody’s downgrades Direct Line’s outlook to ‘negative’ after dividend dropped

Abbie Wood
17 January 2023
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Moody’s Investors Service has changed its outlook on Direct Line Insurance Group (DLG) from ‘stable’ to ‘negative’ after the insurer, in guidance on 2022 profitability published last week, cancelled its final dividend for 2022.

The change in outlook reflects the firm’s deterioration in profitability during year end 2022, Moody’s said, and the expected earning headwinds in 2023 because of high claims inflation and difficult pricing conditions in the UK retail P&C market.

Similarly,

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