Recalculated end-2023 Solency II ratio to 188% (Il Sole 24 Ore Radiocor) - London, 23 Aug - The UK insurance group Direct Line said that it estimates its solvency capital ratio at June 30 to be around 200%.

"This follows good capital generation in the first half from a combination of operating earnings, one-off benefits from partnerships, and market movements," it said.

The company added that during the preparation of half year results a miscalculation has been identified within the audited Solvency II own funds for the year ended 2023.

Corrected for the miscalculation, the solvency capital ratio at end 2023 was 188%. The previously reported solvency capital ratio was 197%.

"The group has taken action to strengthen the control environment in relation to the specific area where the miscalculation occurred," it added.

Direct Line will report its half year results September 4.

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(RADIOCOR) 23-08-24 10:14:36 (0186) 5 NNNN