Línea Directa doubles its profit to 20.8 million euros in the first quarter and accelerates growth in revenue and customers
- Línea Directa Aseguradora has achieved a net profit of 20.8 million euros in the first quarter of 2025, a 106.1% increase compared to the same period last year, driven by accelerated growth in revenue and customers and improved insurance margins.
- Written premiums increased by 9.5% year-on-year, reaching 275.2 million euros, thanks to growth across all business lines. The revenue growth rate has accelerated and is now three times that of the first quarter of 2024.
- The customer portfolio increased by 184,200 policyholders during the period, thanks to the generation of new business and higher retention, reaching 3.5 million customers (+5.6%).
- The combined ratio stood at 92.3%, an improvement of 5 percentage points compared to the first quarter of the previous year, thanks to reduced claims and expenses. In the Auto segment, this indicator reached 91.9% (-4.6 p.p.).
- As a result, the company's insurance activity result improved by 202.6%. Meanwhile, the financial result advanced by 10.6%, reaching 10.2 million euros, due to higher income from fixed income.
- The company maintains a solid financial profile, achieving a return on average equity (RoAE) of 21.8% and a solvency ratio of 187%, both figures above those recorded at the end of 2024 (19.6% and 185.4%, respectively).
Patricia Ayuela, CEO Línea Directa y Carlos Rodríguez, CFO Línea Directa.
Madrid, 28 April 2025.- Línea Directa Aseguradora has started 2025 with very positive results, maintaining the company's solid and upward trend in terms of business generation, profits, and profitability.
The entity achieved a net profit of 20.8 million euros in the first quarter of the year, more than double (+106.1%) compared to the same period last year. This result reflects the increase in revenue and customers and a favorable evolution of the insurance margin.
The combined ratio stands at 92.3%, five percentage points better than in the first quarter of 2024, and also below the figure at the end of the previous year (92.6%). This reduction in the key indicator of insurance business profitability is due to the improvement of all its components. On the one hand, premium income, and on the other, the reduction in claims and expenses.
Thus, Línea Directa recorded an improvement in the loss ratio of 3.8 p.p. in the first three months of the year, reaching 71.3%. Meanwhile, the expense ratio decreased by 1.2 p.p. to 21.0%, thanks to continuous cost containment and increasing efficiency derived from the growing digitalization of the company's operations.
The combined ratio performance has been positive in all three branches in which Línea Directa operates. In Autos, it improved by 4.6 p.p., standing at 91.9%, below the sector average, which at the end of 2024, the latest available data, was 101.4%. In Home, despite the rains in the first quarter, it improved to 89.9% (-6.7 p.p.), and in Health to 133.2% (-8.4 p.p.).
Business acceleration
The progressive improvement in Línea Directa's profit is also supported by outstanding commercial performance, with increasing levels of revenue and customer portfolio, confirming the acceleration of the company's commercial pace.
The company reached a volume of written premiums of 275.2 million euros in the first quarter, an increase of 9.5% compared to the same period last year, with notable growth in all business lines. Meanwhile, insurance revenue increased by 5.0%.
The acceleration in the growth rate of the entity's premium income is noteworthy, with the 9.5% increase tripling the growth rate of a year earlier (+3.0%).
This increase in revenue is driven by solid commercial activity. The customer portfolio grew by 5.6%, reaching 3.5 million policyholders. In the last twelve months, Línea Directa has grown by a total of 184,200 policyholders, both through the generation of new business and higher customer retention, while maintaining underwriting rigor.
Revenue growth has occurred across all business lines, driven by a competitive multi-product offering, strengthened commercial capabilities, Línea Directa's brand leadership, and increasing business generation through digital channels.
Solid evolution of technical and financial margins
As a result, the insurance margin has experienced a notable improvement, with a technical result of the insurance activity of 19.1 million euros, an increase of 202.6% compared to the first quarter of 2024. This evolution is explained by the aforementioned improvement in almost all indicators and results of all Línea Directa's business lines.
In parallel, the financial result increased to 10.2 million euros (+10.6%), thanks to higher income from fixed income.
The results of the first three months of the year allow Línea Directa to improve the return on average equity (RoAE) to 21.8%, 2.2 p.p. more than at the end of 2024, and to raise its solvency ratio to 187%, compared to 185.4% at the end of the previous year.
Notable growth in all lines of activity
By business lines, in the Autos segment, issued premiums increased by 9.1% to 213.6 million euros, driven by a portfolio growth of 105,000 policies, reaching 2.56 million customers (+4.3%). Meanwhile, insurance revenue grew by 4.4%.
The Home line also maintained a very positive trajectory, with an 8.0% increase in premiums to 42.4 million euros, and a 6.4% increase in insurance revenue. The portfolio grew by 3.3%, exceeding 751,000 policies.
The Health business, with 116,000 insureds, recorded the highest increase in terms of revenue, with a 14.4% increase in premiums compared to the previous year. This growth is driven by the company's growth in more comprehensive products, which grew by 15.8% in insureds, and consequently, an improvement in the business mix. Insurance revenue also grew by double digits (+10.1%).
New Products (personal mobility, home occupation protection, pets, and multi-risk businesses) continue to gain weight and now total 69,000 policies, with a 72.1% increase in premiums, reaching 1.37 million euros.
In the words of Patricia Ayuela, CEO of Línea Directa Aseguradora, "We have started 2025 with very positive results, with a favorable combination of business generation and margin improvement, accelerating growth in revenue and customers and doubling profit compared to last year. These results confirm that we are on the right track to meet our growth and profitability priorities. In this significant year as we celebrate Línea Directa's 30th anniversary, we continue to advance in the transformation and strengthening of our capabilities, with the aim of building a future of greater results for Línea Directa."
LÍNEA DIRECTA ASEGURADORA
MAIN FIGURES 3M 2025
| Figures (million €) | 3M 2025 | 3M | Var. 25/24 |
| Written premiums | 275,198 | 251,419 | +9,5% |
| Ordinary insurance activities income | 254,641 | 242,618 | +5,0% |
| Technical insurance result | 19,098 | 6,311 | +202,6% |
| Invesments results | 10,201 | 9,226 | +10,6% |
| Profit / (loss) before tax | 27,659 | 13,690 | +102,0% |
| Profit / (loss) after tax | 20,834 | 10,110 | +106,1% |
| Loss ratio | 71,3% | 75,1% | -3,8 p.p. |
| Expense ratio | 21,0% | 22,2% | -1,2 p.p. |
| Combined ratio | 92,3% | 97,3% | -5,0 p.p. |
| Policyholders (million) | 3,500 | 3,316 | +5,6% |