Half Year 2023 Direct Line Insurance Group PLC Earnings Call Transcript
Good morning, and welcome to the Direct Line Half Year Results 2023 Conference Call. My name is Carla, and I will be the operator of today's call. (Operator Instructions)
I would now like to pass the conference over to our host, Jon Greenwood, Acting CEO, to begin. Jon, please go ahead when you're ready.
Good morning, everyone. Back in March, I told you that our key priorities were to restore our capital resilience, improve our performance in Motor and maintain the performance in our other businesses. Over the past 6 months, we've taken decisive action to address each of these and put the group back on a stable footing.
Firstly, we've reached agreement to sell our commercial brokered business to RSA. This transaction will strengthen the group, both strategically and financially, and is forecast to improve our solvency ratio by around 45 points to above 190%.
In Motor, the first half earnings are clearly not at an acceptable
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