Direct Line Ins Grp DLG Director/PDMR Shareholding

  Direct Line Ins Grp (DLG) - Director/PDMR Shareholding

RNS Number : 6372Q
Direct Line Insurance Group PLC
08 November 2012

   Notification of Transactions of Directors/Persons Discharging Managerial


Direct Line Group - Long Term Incentive Plan

In accordance with DTR3.1.2(1), Direct Line Insurance Group plc ("Direct Line
Group" or "the Company") was notified on 7 November 2012 of the grant of
options to acquire Ordinary Shares of 10p ("Ordinary Shares") each, on 7
November 2012, to Executive Directors and other Persons Discharging Managerial
Responsibility ("PDMR") under the Company's Long Term Incentive Plan ("LTIP"),
as set out below.

Subject to the performance conditions attached to the awards being met, the
awards will vest on 7 November 2015 and will remain exercisable until 6
November 2022. The awards are granted as options to acquire vested Ordinary
Shares at nil-cost. The market value per Ordinary Share subject to each option
is 195.75p. 

Further details of the LTIP can be found in the Company's Prospectus dated 28
September 2012.

Name               Maximum Number of Shares
Paul Geddes        388,250
John Reizenstein   234,993
Rob Bailhache      59,892
Jamie Brown        75,158
Darrell Evans      70,804
Jonathan Greenwood 105,363
Steve Maddock      118,773
Mark Martin        118,773
Angela Morrison    73,561
Humphrey Tomlinson 81,670
Jose Vazquez       151,513
Tom Woolgrove      162,835

Existing awards made under The Royal Bank of Scotland Group plc ("RBS Group")
Long Term Incentive Plan ("RBS Group LTIP")

As detailed in the Company's Prospectus dated 28 September 2012, certain
Direct Line Group Executive Directors and PDMR held awards granted under the
RBS Group LTIP. In order to align the interests of those participants with
Direct Line Group shareholders, the remuneration committee of RBS Group
determined that participants within Direct Line Group holding awards granted
under the RBS Group LTIP in 2011 and 2012 would be given the opportunity to
have those awards satisfied in Direct Line Group Ordinary Shares (the
"Conversion"). These awards will remain subject to the terms of the RBS Group
LTIP (including performance criteria, which will be determined by the RBS
Group remuneration committee at vesting).

The Conversion was calculated by taking the product of the number of RBS Group
shares under award and the average share price of RBS Shares over the five
business day period prior to the date the Direct Line Group offer price was
announced, and dividing such product by the offer price of 175p.

Following finalisation of the Conversion the Company's Executive Directors and
PDMR have the following interests in Direct Line Group Ordinary Shares.

Name               Existing awards under the RBS LTIP, converted to Direct
                   Line Group Shares
Paul Geddes        1,298,394
John Reizenstein   282,277
Rob Bailhache      58,712
Jamie Brown        156,805
Darrell Evans      183,747
Jonathan Greenwood 177,061
Steve Maddock      212,284
Mark Martin        216,901
Angela Morrison    132,234
Humphrey Tomlinson 328,669
Jose Vazquez       214,445
Tom Woolgrove      242,801

Following the LTIP Award, the Company's Executive Directors and PDMR have the
following interests in Direct Line Group Ordinary Shares.

Name             Total holding and  Total number of    Existing awards under
                 percentage holding Ordinary Shares    the RBS Group Long Term
                 of Direct Line     under option under Incentive Plan,
                 Group Ordinary     Direct Line Group  converted to Direct
                 Shares             Share Plans        Line Group Ordinary
Paul Geddes      57,142 (0.00)%     388,250            1,298,394
John Reizenstein 57,142 (0.00)%     234,993            282,277
Rob Bailhache    11,428 (0.00)%     59,892             58,712
Jamie Brown      -                  75,158             156,805
Darrell Evans    14,285 (0.00)%     70,804             183,747
Jonathan         -                  105,363            177,061
Steve Maddock    17,142 (0.00)%     118,773            212,284
Mark Martin      -                  118,773            216,901
Angela Morrison  -                  73,561             132,234
Humphrey         17,142 (0.00)%     81,670             328,669
Jose Vazquez     17,142 (0.00)%     151,513            214,445
Tom Woolgrove    17,142 (0.00)%     162,835            242,801




Notes to Editors:

For further information, please contact

Robert Franklin

Head of Secretariat

Direct Line Group

Tel: 020 8285 3764

                     This information is provided by RNS
           The company news service from the London Stock Exchange


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