Insurance firm Direct Line has seen its profits jump by 20 per cent in the first nine months of 2013.
The company has revealed operating profits of £417.8 million up to September, compared with £347.9 million achieved the year before.
Direct Line – which is the UK’s biggest insurer – is responsible for the Churchill and Privilege brands and is 28.5 per cent owned by the Royal Bank of Scotland.
The results have partly come about because of a drop in the number of net insurance claims, as well as the fact that the costs associated with a planned restructuring of the business have come in around £30 million cheaper than was previously estimated.
It was announced in June that the firm would be getting rid of around 2,000 jobs as part of a wider plan to make £130 million of savings.
The company had previously announced a further 1,200 posts would also be axed.
Direct Line’s chief executive Paul Geddes said: “Even after allowing for normal weather losses, our performance proves we are delivering our self-help agenda and making good progress towards our strategic targets.”