Direct Line releases £49mn of Ogden reserves

UK general insurer Direct Line said more favourable than
expected bodily-injury claims trends allowed for the release in the
first half of £49mn ($64.4mn) of reserves it had set aside to
deal with the cut in the Ogden discount rate.
In the carrier's first-half results released today it said
case reviews conducted over the last quarter had revealed
lower-than-feared additional costs.
However, it added it continued to assume a negative 0.75 percent
Ogden rate in the near future. It released.