Admiral issues profit warning over PI claims

henry-englehardt

Group turnover has increased by 30% to £582m with the company now insuring over three million vehicles.

However, a report from the insurer warned that if there was no reversal in the trend of higher than normal personal injury claims in Q4, pre-tax profits would “be towards the lower end of the range of analysts’ estimates, or some 10% ahead of 2010, with no further reserve releases in the second half”.

Chief executive, Henry Engelhardt, said: “Across 2011 as a whole we are likely to have grown

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: