UPDATE 2-Direct Line to axe 2,000 jobs in sluggish insurance market

Newswire

* Cutbacks to save co 130 mln stg annually by 2014 * Co to record 150 million pounds in restructuring costs in 2013, 2014 * Shares rise as much as 6 pct By Richa Naidu June 26 (Reuters) - Britain's Direct Line Insurance Group Plc, the motor insurer spun out of Royal Bank of Scotland, said it plans to axe about 2,000 positions, joining fellow insurers looking to trim costs and boost profits in a sluggish and competitive market. ...

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