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UK's Direct Line sees full-year profit better than market expectations

Reuters - UK Focus

Feb 9 (Reuters) - Britain's largest motor insurer Direct Line Insurance Group said on Friday that 2017 pretax profit would rise year-on-year and be ahead of market expectations, helped by favourable claims.

Direct Line (Other OTC: DIISD - news) , whose brands include Churchill, Green Flag and Privilege, said it expects to report a profit before tax of about 540 million pounds ($746.23 million) for the year ended Dec (Shanghai: 600875.SS - news) . 31.

The company benefited from lower than expected weather claims, it said on Friday.

Gross written premiums are expected to rise to 3.40 billion pounds for the period from 3.27 billion pounds a year ago, Direct Line said. ($1 = 0.7236 pounds) (Reporting by Rahul B in Bengaluru; Editing by Bernard Orr)