Direct Line Insurance Group PLC

Remuneration Information • Mar 28, 2013

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RNS Number : 1645B

Direct Line Insurance Group PLC

28 March 2013

DIRECT LINE INSURANCE GROUP PLC ("DLG")

TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRS")

28 MARCH 2013

DLG announces the following changes to the interests of PDMRs in DLG's ordinary shares of 10 pence each ("Ordinary Shares").

Direct Line Insurance Group plc 2012 Long-Term Incentive Plan ("LTIP")

DLG was notified today of the grant of options to acquire Ordinary Shares under the LTIP to the following PDMRs in respect of the financial year ending 31 December 2013.  In accordance with the LTIP rules, the awards were granted on 28 March 2013 as nil-cost options.

PDMR	Interest in Ordinary Shares held under the LTIP before the transaction	Number of Ordinary Shares awarded	Price per Ordinary Share awarded (GBP)	Interest in Ordinary Shares under the LTIP following the transaction
	A	B		A+B
Paul Geddes	388,250	377,040	2.0157	765,290
John Reizenstein	234,993	228,208	2.0157	463,201
Rob Bailhache	59,892	49,438	2.0157	109,330
Jamie Brown	75,158	77,500	2.0157	152,658
Darrell Evans	70,804	106,972	2.0157	177,776
Jonathan Greenwood	105,363	102,321	2.0157	207,684
Steve Maddock	118,773	115,344	2.0157	234,117
Angela Morrison	73,561	89,296	2.0157	162,857
Humphrey Tomlinson	81,670	79,312	2.0157	160,982
Jose Vazquez	151,513	125,067	2.0157	276,580
Tom Woolgrove	162,835	158,133	2.0157	320,968

DLG's policy is to make awards twice a year following the announcement of DLG's full and half-year results respectively. The awards will vest on 27 March 2016, subject to the achievement of performance conditions attached to the awards, and remain exercisable until 27 March 2023.

Direct Line Insurance Group plc Deferred Annual Incentive Plan ("DAIP")

DLG was also notified today of the grant of options to acquire Ordinary Shares under the DAIP to the following PDMRs in respect of the financial year ending 31 December 2013.  In accordance with the DAIP rules, the awards were granted on 28 March 2013 as nil-cost options.

PDMR	Interest in Ordinary Shares held under DAIP before the transaction	Number of Ordinary Shares awarded	Price per Ordinary Share awarded (GBP)	Interest in Ordinary Shares held under DAIP following the transaction
	A	B		A+B
Paul Geddes	0	188,522	2.0157	188,522
John Reizenstein	0	68,462	2.0157	68,462
Rob Bailhache	0	16,693	2.0157	16,693
Jamie Brown	0	23,025	2.0157	23,025
Darrell Evans	0	33,387	2.0157	33,387
Jonathan Greenwood	0	41,734	2.0157	41,734
Steve Maddock	0	54,254	2.0157	54,254
Angela Morrison	0	25,040	2.0157	25,040
Humphrey Tomlinson	0	25,040	2.0157	25,040
Jose Vazquez	0	41,734	2.0157	41,734
Tom Woolgrove	0	50,081	2.0157	50,081

The DLG Remuneration Committee makes awards under the DAIP annually once the outcome of the Annual Incentive Plan for eligible executives is determined.  With the exception noted below, the awards will vest on 27 March 2016 and remain exercisable until 27 March 2023.

Paul Geddes's bonus outcome for 2012 is deferred on terms comparable to those applying to all members of The Royal Bank of Scotland Group plc's Executive Committee, due to his having been a member of the committee for nine months of the year, with the exception that any deferral is into DLG's shares.  Accordingly, Mr Geddes's options vest over three years (March 2013-2016).

For further information on DLG's remuneration policy and implementation of the policy please see our 2012 Directors' Remuneration Report which is available at:  ara2012.directlinegroup.com.

This announcement is made in accordance with the requirements of DTR 3.1.4 R.

For any enquiries relating to this announcement, please contact:  

Ines Watson

Senior Assistant Company Secretary, GovernanceEmail:  ines.watson@directlinegroup.co.uk

Telephone:  020 8313 5997

This information is provided by RNS

The company news service from the London Stock Exchange

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