Patricia Ayuela: “We want to lead the market in efficiency, service quality and brand appeal in order to keep growing and improving profitability”

• The CEO of Línea Directa said the strength of the direct model, the modernisation of technological capabilities and the scaled deployment of artificial intelligence at the core of operations will enable the company to continue expanding and increasing profits.
• She highlighted the company’s ability to “fund double-digit growth, distribute €45 million in dividends, undertake today’s technology investments and keep the solvency margin above 180% at the same time”.
• The General Shareholders’ Meeting approved, by a broad majority, all resolutions put to the vote, including the reappointment of Patricia Ayuela as Executive Director and the payment of a supplementary dividend of €15 million.

Madrid, 9 April 2026. Patricia Ayuela, CEO of Línea Directa Aseguradora, told today’s General Shareholders’ Meeting that, following the outstanding results achieved in 2025, the company faces the future with the ambition of becoming the market-leading insurer in efficiency, service quality and brand appeal, with the aim of delivering stronger results and higher profitability.

In her address to shareholders, Ayuela reviewed the transformation undertaken by the insurer over the past four years—an evolution that has underpinned the company’s strong performance in 2025—stressing that the results “are the outcome of the collective effort of the entire Línea Directa team”. She also noted that Línea Directa has begun 2026 with positive prospects.

“2026 is a hugely important year for the company. Our medium-term strategic ambition is to be the number one company in Spain—not only on price, but also in efficiency, service quality and reputation. To achieve this, we are delivering projects of a scale and significance not previously seen at the company,” she said.

This, she explained, “will not only lead us to increase the company’s size, profit and dividend, but will also bring—sooner rather than later—recognition of the value created and of Línea Directa’s potential.”

Accelerating technology modernisation and scaled AI deployment

The CEO said that one of the key drivers of that strategic ambition will be the modernisation of technological capabilities and the scaled deployment of artificial intelligence at the core of Línea Directa’s operations.

Ayuela cited how the company is already applying the technology to streamline internal processes, improve risk modelling and accelerate software development in order to provide an even better service to customers. “Artificial intelligence unquestionably has the potential to improve many industries and business models, but for us—operating through the direct model—it will represent an unprecedented competitive advantage in terms of agility, efficiency and error reduction,” she said.

In this regard, she emphasised that Línea Directa is pursuing this transformation “responsibly, with the professional ethics that define us, cautiously in its deployment, and supported by our teams of outstanding professionals”. “Because people today have irreplaceable value,” she insisted, adding that “in a world where automation capabilities continue to grow exponentially, nothing can replace human sensitivity, common sense and heart—so necessary when dealing with the situations we face every day with our customers as insurers.”

In the same vein, she also underscored Línea Directa’s ability to serve more customers while simultaneously reducing the expense ratio and increasing NPS, which improved by 5.7 pp. “Thanks to the advanced level of digitalisation of operations and customer services, 92% of Línea Directa customers now use the company’s app and website to manage their needs, and in 2025 the company recorded 28 million digital transactions and 2 million online chats, 65% of which were resolved by artificial intelligence.” She added that this has strengthened Línea Directa’s commercial capabilities, with the company now underwriting almost 1 in 10 new policies entirely digitally.

Broad majority approval of all proposed resolutions

The General Shareholders’ Meeting, held today in Tres Cantos (Madrid) with the participation of 80.17% of the share capital, approved by a broad majority all resolutions included on the agenda. These included the reappointment of Patricia Ayuela as Executive Director.

The Meeting also approved the cash distribution of €15 million as a supplementary dividend charged to 2025 earnings. With this additional payment—on top of the two interim dividends already paid during the year—Línea Directa’s total shareholder remuneration for 2025 amounts to €45 million.

“Funding our double-digit growth, distributing €45 million in dividends, undertaking current technology investments and keeping the solvency margin above 180% at the same time is about striking a very challenging management balance,” Patricia Ayuela said of the 2025 performance, which she described as “outstanding” for its combination of growth and profitability.

Record growth in policyholders and accelerating revenues

First, the CEO referred to the strong customer growth recorded last year, as Línea Directa increased its portfolio by 290,400 policyholders to 3.7 million customers—2.5 times the number of new policyholders secured in 2024—and achieved the highest annual customer growth figure in the company’s history.

“Our ability to attract customers is higher today than ever,” said Ayuela, explaining that the increase in the number of policyholders reflects both “excellent commercial performance” and “greater customer retention”.

As a result, the company accelerated revenue growth and written premiums reached €1,135 million, up 11.3%, outperforming the broader non-life insurance sector by 3.5 percentage points. All business lines posted solid gains: Motor grew by 11.8%, Home by 6.3% and Health by 14.7%.

“This growth has been achieved while maintaining strict risk control and strengthening efficiency,” the CEO said, highlighting Línea Directa’s strong combined ratio, which improved by 2.1 percentage points in 2025 to 92.6%. Ayuela particularly pointed to Línea Directa’s differential performance in Motor, where the combined ratio remains well below the sector.

The combination of growth and profitability enabled Línea Directa to close 2025 with net profit of €85.7 million, up 33.5% year on year, and a return on equity of 22.9%. At the same time, following approval of the supplementary dividend, the solvency ratio stands at 182.6%.

2026 and the outlook

The CEO highlighted the positive business performance in the first months of the year: “we approach 2026 with optimism and full confidence in Línea Directa’s collective capability”. Referring to the current geopolitical and economic backdrop, marked by uncertainty, Ayuela defended the company’s proven strengths to successfully navigate any adverse scenario.

In this context, she recalled the strategic measures adopted in recent years not only to address cyclical challenges such as the inflationary crisis of 2022 and 2023, but also to lay the foundations for Línea Directa’s future growth. “From this period, I believe we can be particularly proud of the company’s continuous and positive progression in results, our ability to meet the commitments we made, and the alignment of the entire Línea Directa team behind those commitments,” she said.

Ayuela also underlined the importance of sustainable growth: “Línea Directa is a company of its time, with a vocation to contribute to society beyond the service we provide by our very nature,” she said, noting how the company’s sustainability strategy—fully embedded in its business strategy—helps generate “a real and positive impact on our environment, as has been recognised internationally”. In 2025, for the third consecutive year, Línea Directa was recognised by S&P Global’s Sustainability Yearbook, placing it among the 33 most sustainable Spanish companies in the world.