Truell eyes Direct Line bid if flotation fails

Duke Street Capital founder Edmund Truell could bid for Direct Line if its planned £2bn - £3bn flotation fails.

Truell is currently doing due diligence on several insurers and would not rule out bidding for the Royal Bank of Scotland-owned firm, according to The Daily Telegraph.

The entrepeneur has founded a firm called Tungsten Corporation to make bids for insurers, especially motor insurers.

Truell said increasing the uptake of telematics-based motor insurance would be a focus for any motor insurer he buys.