About the group
About the group
RBS complete the sale of its remaining Interest in Direct Line Insurance Group
Entry into the FTSE 100
Direct Line Group gain entry into the FTSE 100
New BrandRBS Insurance rebrands as Direct Line Group ahead of its divestment from RBS Group.
Credit ratingsU K Insurance, the Group’s principal UK general insurance underwriter, assigns an insurer financial strength rating of ‘‘A’’ with a stable outlook by Standard & Poor’s and ‘‘A2’’ with a stable outlook by Moody’s.
Debt ListingThe Group completes a £500m issue of Fixed/Floating rate Guaranteed Subordinated Notes due 2042 and the intention to seek a listing of the securities on the London Stock Exchange.
SeparationThe Group substantially completes its separation from parent group RBS and achieves the goal of operating as a standalone insurance company, with independent functions and governance.
DivestmentThe Group is admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities.
The Group completes the consolidation of its UK statutory general underwriting entities into one entity, U K Insurance Limited – to streamline internal operations in anticipation of the new EU Solvency II regulations.
Direct Line Group commences a major project to separate its operations from those of the RBS Group plc.
The Group withdraws from its NIG personal lines broker business.
RBS Group plc commits to the European Commission to sell its insurance business as a condition of its receipt of State Aid.
RBS Group plc initiates a transformation plan:
The Group sells its share in TPF (Tesco Personal Finance) to Tesco in July, but retains run-off businesses.
Bankinter exercises its option to buy out the Group's 50% stake in the Spanish business.
This followed the change in control of the RBS Group in 2008, when HM Treasury became the majority shareholder in RBS Group plc.
The Group acquires Churchill Insurance Group Plc from Credit Suisse Group. This includes Churchill and the National Insurance and Guarantee Corporation Limited (NIG). It also adds key long-term partnership distribution agreements, including Prudential and Nationwide.
The Group acquires the business of Royal Insurance from R&SA Assicurazioni. These businesses rebrand as Direct Line.
The Group acquires the European motor insurance businesses of Allstate Corp, operating in Germany and Italy.
Direct Line begins to operate through the internet channel.
The Group launches Tesco Personal Finance Limited (TPF), a 50:50 joint venture with Tesco plc.
The Group acquires Privilege Insurance Company Limited.
Direct Line launches pet and travel products.
The Group creates Linea Directa, a direct motor insurance joint venture with Bankinter in Spain.
Direct Line launches the red telephone on wheels for TV ads.
RBS Group wholly acquires Direct Line.
Direct Line expands from motor to offer home insurance.
Direct Line launches in partnership with the RBS Group.
Direct Line Insurance Group plc © 2017
Registered in England & Wales No 02280426. Registered Office: Churchill Court, Westmoreland Road, Bromley, BR1 1DP
Most computers will open PDF documents automatically, but you may need to download Adobe Reader.