Admiral confirms plans to move into household arena

"We are looking at a household product but I'm not sure if it'll be [launched] this year or next," he told Insurance Age.

In a wide ranging interview for the March edition of the magazine Mr Engelhardt, who defined the product as "embryonic", added that pricing levels and underwriting structure were yet to be finalised but he confirmed that books of business held by brokers would be attacked.

"I would assume since we are starting at zero we are going to take business from somebody and some of it