Línea Directa suffered losses of 15.5 million in the first semester due to inflation

Línea Directa Aseguradora headquarters.

Línea Directa presented a net loss of 15.5 million euros in the first half as a result of the impact of inflation and compared to a profit of 48.9 million obtained in the same period of 2022, as reported on Friday in a press release sent to the Commission of the National Securities Market (CNMV).

Specifically, it shows that Inflated cost of service It remains “at very high levels” and it continues to affect margins in the insurance sector, especially the auto branch.

Premium income amounted to 491.9 million euros, up 3.6% over the same period in 2022, thanks to the growth in the entity’s turnover in all areas of its business (automotive, home, health).

The company’s insured portfolio was 3.47 million at the end of June, which was a slight decline of 0.3% that could be fully offset by improvement in billings.

In addition, it is fully compatible with The action plan announced by Skinny Counselor, Patricia Ayolaat the general meeting of shareholders, where the company implements a strict subscription and applies an individual price adjustment according to the risks of each client in the current inflationary context, ”the company explains.

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