Admiral issues profit warning over PI claims


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

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