Direct Line CEO gets £2m raise

Caitlin Morrison
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Pre-tax profits at the insurer jumped 12.2 per cent in 2014 (Source: Corbis)
Insurance boss Paul Geddes has been granted a pay rise of more than £2m – up from £2.54m in 2013 to £4.62m last year.

The Direct Line Group (DLG) chief executive’s pay was revealed in the company’s final results yesterday, which showed pre-tax profits jumped by 12.2 per cent from £407.3m to £456.8m in 2014. Gross written premium dipped by 3.8 per cent from £3.22bn to £3.1bn.

However combined operating ratio improved slightly, from 95.2 per cent to 95 per cent for the period.

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