Analysts predict a profit surge for Admiral

Analysts expect Admiral to report pre-tax profits of £159.3m in the first half of 2011, up 26% on the same period a year ago, reported Walesonline.co.uk.

The Cardiff-based direct insurer has grown its share of the car insurance market in recent months after implementing lower price increases than its competitors.

Henry Engelhardt, chief executive of Admiral, told Insurance Age in March that it gained an advantage when it fixed its marketing costs as the percentage-based commission of brokers