Car insurers face threat of investigation | The Times

Watchdog move could lead to lower premiums

Insurers have welcomed a decision by the Office of Fair Trading to refer the motor insurance market for a full-scale investigation as the first step towards an historic shake-up that could cut premiums for Britain?s drivers.

The watchdog said it had referred the case to the Competition Commission, a decision that casts a cloud over the flotation of Direct Line, Britain?s biggest motor insurer, which yesterday issued a price range for the shares.

The operator of the Churchill, Privilege and Green Flag brands plans to sell shares ? including to the public ? for between 160p and 195p each, valuing the business

Source: http://www.thetimes.co.uk/tto/business/industries/banking/article3552410.ece

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