Admiral CEO reveals UK challenge as revenue drops

Henry Engelhardt

The motor insurer saw its UK revenue drop to £470m for Q1 2013, down from £518m posted for the same period last year. 

Admiral's UK car insurance vehicle count stayed the same at 3m as group turnover also dropped 6% to £551m (Q1 2012: £586m).

However, its international car insurance turnover rose 20% to £48m while Admiral's international car insurance vehicle count jumped 30% to 458,000 (Q1 2012: 353,000).

Premiums down
Assessing the results, Mr Engelhardt, stated: "Year-on-year UK car insurance

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