Insurer Direct Line reports fall in policies; aims to cut costs in medium term
Share:
(Reuters) - Britain's biggest motor insurer Direct Line laid out new medium-term targets on Wednesday, including a plan to cut expenses by more than 50 million pounds ($64.59 million), after it reported fewer number of policies in the third quarter.The owner of Churchill and Privilege brands aims to cut its operating expenses before amortisation and depreciation to below 590 million pounds by 2021 from 722 million pounds in the last year. The plans, under Penny James who took on the top job..