10th May 2018 15:37
LONDON (Alliance News) - FTSE 100-listed Direct Line Insurance Group on Thursday said it was disappointed with the dissent showed by shareholders over its director remuneration report at its annual general meeting earlier in the day.
The resolution only received 76.85% of votes cast for the resolution, while 23.42% of votes were against it.
"Naturally we are disappointed not to have received a higher level of support for the resolution, but having engaged with our shareholders, we understand their specific concern. We welcome feedback from our shareholders and we will continue to actively engage with them on executive remuneration and other issues," Direct Line said in a statement.
Last Wednesday, the insurer reported a 5% drop in first quarter gross premiums and said it will record a GBP50 million claims charge for the so-called "Beast from the East" cold weather snap that hit the UK during the period.
Shares in Direct Line Insurance Group were up 0.4% at 372.50 pence on Thursday.
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