May 04, 2022 / 08:00AM GMT
Operator
Welcome to the DLG Q1 Trading Update Call. My name is Ruby, and I will be your moderator for today's call. (Operator Instructions) I will now hand over to our host, Penny James, CEO of DLG, to begin.
Penelope Jane James - Direct Line Insurance Group plc - CEO & Executive Director
Good morning, everyone, and welcome to our first quarter update. Now it's only been 7 weeks since we presented the full year results, but Neil and I thought that we'd take the opportunity to update you on our trading strategy and a bit of operational progress through what's been a pretty busy first quarter.
Before we jump to questions, though, let me just pull out a few of the key messages from the release. Firstly, overall premium reduced 2.4% in Q1, which is broadly in line with our expectations as we outlined at year-end. In Motor, firstly, whilst the market saw pricing inflation in January as we implemented the FCA pricing practices review, we believe the market pricing hasn't yet fully covered claims inflation from the last 18 months. And against this backdrop, we've
Q1 2022 Direct Line Insurance Group PLC Trading Statement Call Transcript
May 04, 2022
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