Admiral enters ECJ debate
Henry Engelhardt, chief executive officer at Admiral, has predicted an increase in rates for younger women following the ruling by the European Court of Justice describing a lowering of rates for men as insurance hara-kiri.
Speaking after the insurer's results which saw a 23% increase in group profit to £266m (2009: £216m) Mr Engelhardt told Insurance Age: "You cannot bring [premiums for] young men down very much, that is the insurance version of hara-kiri. The minute you move young men down you are mis-pricing them and the minute you get more of them you are just asking for trouble."
In its results for the year ended 31 December 2010 Admiral saw a 32% growth in vehicle count in the UK to 2.5 million vehicles. Its
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