Direct Line Insurance Group PLC

Remuneration Information • Aug 30, 2017

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RNS Number : 2921P

Direct Line Insurance Group PLC

30 August 2017

DIRECT LINE INSURANCE GROUP PLC ("DLG")

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

30 AUGUST 2017

In accordance with DLG's remuneration policy, awards under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP") have been granted to PDMRs over ordinary shares of 10 10/11 pence each in DLG.

The level of vesting of an award will depend upon two performance measures: Return on Tangible Equity ("RoTE") and Total Shareholder Return. The level of RoTE required for awards made from March 2017 onwards to vest was increased from a range of 14.5% to 17.5% to a range of 15.0% to 18.0%. Due to the uncertainty in connection with the Ogden Discount Rate review, at the time of publication of the 2016 Annual Report and Accounts, DLG confirmed that its Remuneration Committee would further consider the RoTE target to be applied to awards made in August 2017. We can confirm that the target range of 15.0% to 18.0% remains the same for these awards. Dividend equivalent options will accrue up to the point of vesting, on those options that vest. 

For further information on DLG's remuneration policy please see our 2016 Directors' Remuneration Report which is available at:  www.directlinegroup.com.

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Paul Geddes

2

Reason for the notification

a)

Position/status

Chief Executive Officer / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

Award of five year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")

c)

Price(s) and volume(s)

Price	Volume
Nil cost options	210,298

d)

Aggregated information

- Aggregated volume

- Price

N/A   Single transaction

e)

Date of the transaction

29 August 2017

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jonathan Greenwood

2

Reason for the notification

a)

Position/status

Managing Director, Commercial / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

Award of three year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")

c)

Price(s) and volume(s)

Price	Volume
Nil cost options	74,922

d)

Aggregated information

- Aggregated volume

- Price

N/A   Single transaction

e)

Date of the transaction

29 August 2017

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mike Holliday-Williams

2

Reason for the notification

a)

Position/status

Managing Director, Personal Lines / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

Award of five year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")

c)

Price(s) and volume(s)

Price	Volume
Nil cost options	142,413

d)

Aggregated information

- Aggregated volume

- Price

N/A   Single transaction

e)

Date of the transaction

29 August 2017

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Simon Linares

2

Reason for the notification

a)

Position/status

Human Resources Director / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

Award of three year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")

c)

Price(s) and volume(s)

Price	Volume
Nil cost options	73,244

d)

Aggregated information

- Aggregated volume

- Price

N/A   Single transaction

e)

Date of the transaction

29 August 2017

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Steve Maddock

2

Reason for the notification

a)

Position/status

Chief Operating Officer / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

Award of three year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")

c)

Price(s) and volume(s)

Price	Volume
Nil cost options	94,382

d)

Aggregated information

- Aggregated volume

- Price

N/A   Single transaction

e)

Date of the transaction

29 August 2017

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

John Reizenstein

2

Reason for the notification

a)

Position/status

Chief Financial Officer / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

Award of five year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")

c)

Price(s) and volume(s)

Price	Volume
Nil cost options	127,275

d)

Aggregated information

- Aggregated volume

- Price

N/A   Single transaction

e)

Date of the transaction

29 August 2017

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Humphrey Tomlinson

2

Reason for the notification

a)

Position/status

General Counsel / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

Award of three year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")

c)

Price(s) and volume(s)

Price	Volume
Nil cost options	44,462

d)

Aggregated information

- Aggregated volume

- Price

N/A   Single transaction

e)

Date of the transaction

29 August 2017

f)

Place of the transaction

The London Stock Exchange (XLON)

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jose Vazquez

2

Reason for the notification

a)

Position/status

Chief Risk Officer / PDMR

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Direct Line Insurance Group plc

b)

LEI

213800FF2R23ALJQOP04

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 10 10/11 pence ("Shares")

GB00BY9D0Y18

b)

Nature of the transaction

Award of three year nil cost options under the Direct Line Insurance Group plc 2012 Long Term Incentive Plan (the "LTIP")

c)

Price(s) and volume(s)

Price	Volume
Nil cost options	80,450

d)

Aggregated information

- Aggregated volume

- Price

N/A   Single transaction

e)

Date of the transaction

29 August 2017

f)

Place of the transaction

The London Stock Exchange (XLON)

For any enquiries relating to this announcement, please contact: 

Simon Watson

Deputy Company Secretary

Telephone: 01651 831911

This information is provided by RNS

The company news service from the London Stock Exchange

END

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