In the crowded and competitive U.K insurance market place, the battle for new customers is heating up, the chief executive of Direct Line, the U.K.'s largest motor insurer, told CNBC Tuesday.
"Our retention rates are up, and our customer satisfaction (rates) are up," Paul Geddes, chief executive of Direct Line, which specializes in selling car, home, pet and travel insurance and other financial services, told CNBC Tuesday.
"New customers are attracted with good prices to get customers to switch but it is a feature of this market versus other financial services that there is a high degree of shopping around," he added, insisting that the firm was the "market leader in home and insurance, we have all the scale that we need…and we have famous brands."