Línea Directa Aseguradora reaches 1 billion euros in premium income for the firts time in its history

• Línea Directa Aseguradora has surpassed, before the end of the fiscal year and for the first time in its nearly 30-year history, 1 billion euros in premium income, thus fulfilling one of the company’s main medium-term ambitions.
• The insurer, which has more than 3.4 million customers, has reached this level of revenue by relying on its direct business model, exclusively organic growth, and the diversification of its business lines.
• Additionally, the new customer vision, multiproduct strategy, and the launch of new products are allowing Direct Line to accelerate its growth in both income and insureds in 2024, in line with the strategic priorities set for this fiscal year by CEO Patricia Ayuela.
• The entity, which will publish its full-year 2024 results next January, aims to further accelerate its business growth in 2025 while continuing to gain in profitability and efficiency.

Madrid, 26 December 2024. Línea Directa Aseguradora has marked a new milestone in its history by surpassing, for the first time in its nearly 30 years of activity, 1 billion euros in premium income. The company, which reached this level of revenue before the end of December and will publish the full-year 2024 results next January, thus fulfills one of its main medium-term growth ambitions.

The achievement of this new record in the company’s growth trajectory has been supported, on the one hand, by the company’s direct business model, selling policies only by phone and internet, and by the exclusively organic growth strategy maintained since its inception.

Additionally, the company, which already has more than 3.4 million customers, has been diversifying its business by entering new lines and currently operates in the Auto, Home, and Health segments, in addition to selling pet insurance, personal mobility insurance, illegal occupation insurance, etc.

With this, Línea Directa has consolidated itself over time as one of the leading general insurance companies in Spain. Specifically, the entity currently ranks 13th in the non-life insurance ranking by revenue volume, being the sixth Spanish-origin company in that ranking.

Business acceleration in 2024

This milestone has also been contributed to by the acceleration of the business throughout this year, in line with the strategic priorities for 2024 communicated by Patricia Ayuela, CEO of Línea Directa Aseguradora, at the 2024 General Shareholders’ Meeting. So far this year, the entity has accelerated the growth in premiums quarter by quarter in all its business lines (Auto, Home, Health, and New Products) and has increased its portfolio by nearly 60,000 new insureds between January and September.

To achieve this, the company has undergone a profound transformation in recent years aimed precisely at boosting its growth. This has involved adopting a new customer vision, replacing the branch-focused organization and operations model with one centered around the customer and their insurance needs, and a multiproduct strategy.

Within this new strategy, the entity has also strengthened its commitment to innovation, with the launch of new products and services, such as “Car+Home Formula,” Illegal Occupation Insurance, and Pet Insurance, which have been well received commercially and are contributing to Línea Directa’s strong commercial performance. In fact, the company has been growing in sales at double-digit rates over the past year.

In the words of Patricia Ayuela, CEO of Línea Directa Aseguradora, “reaching 1 billion euros in revenue for the first time in our history represents surpassing a new milestone in the sustained growth trajectory that Línea Directa has maintained since its inception, proving our ability to meet all the goals we set for ourselves and is a success for all the people who are and have been part of this company. But we aim for more. Línea Directa has the business model, strengths, and strategy to achieve much more. Therefore, 2025 and the coming years will be periods of accelerating our growth, to become the reference insurer for individuals, freelancers, and small and medium-sized enterprises in Spain”.