Admiral
RSA sells home and pet books to Admiral and confirms UK PL withdrawal
Intact Financial Corporation has reached an agreement to sell RSA’s UK direct personal lines operations, representing approximately £165m of annual premiums, to Admiral Group.
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Markerstudy CEO Spencer targeting Admiral’s crown as UK’s top PL player after Atlanta deal
Markerstudy is only £301m of gross written premium away from potentially overtaking Admiral as the UK’s largest personal lines player after the £1.2bn Atlanta deal last week, according to its CEO Kevin Spencer.
Signs of motor market turn as Admiral boss expects easing claims inflation
Admiral chief executive Milena Mondini de Focatiis is predicting a ‘slowing, decreasing trend’ in motor claims inflation.
Treasury Committee calls for consumer questions ahead of sector grilling
The Treasury Committee has called on the public to submit questions ahead of an evidence session with insurance bosses, as it warned of hearing ‘anecdotal evidence’ in recent months of premiums rising faster than inflation, insurers refusing to pay out,…
News analysis: What next for brokers amid FCA premium finance crackdown?
The Financial Conduct Authority’s premium finance crackdown threatens a significant revenue earner for brokers. Big players with strong balance sheets are making moves
No major impact on insurers by inflation: report
Plenum Investments’ 2022 half year report has shown that inflation has not had a serious impact on the insurance sector, except for UK motor insurers, and higher interest rates gave led to an improvement in Solvency II positions.
People Moves: 18-22 July 2022
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Tempcover to sell up to Uswitch and Confused owner RVU
The broker completed an MBO at the start of 2018.
Admiral reports increased profit and turnover
Profit before tax hit £769m, a 26% uptick on the 2020 result as it flags plan to move into small business insurance.
Admiral profit soars by 76% in first half of 2021
COR improved to 75.2%, while its lockdown rebate cost the provider £21.1m during the six-month period.
Admiral flags “higher than expected” profit
The business suggested low claims frequency and unusually positive developments in the cost of bodily injury claims will boost its half year figures.
Profit and turnover up for Admiral Group
Profit before tax was driven by strong reserve releases and lower claims frequency.
Admiral lockdown rebate cost £97m
2020 COR for the first half of the year was 83.0% compared to 92.3% on H1 2019.
Blog: Short term motor insurance is for life, not just lockdown
There is evidence that people are looking to ride share or borrow a vehicle more to avoid public transport in light of Covid-19. However, Tempcover's Alan Inskip expects there to be deep-rooted changes in attitudes towards vehicle usage post-lockdown…
Admiral becomes first UK provider to offer pandemic rebate
The business is to return £110m to car and van customers as part of Stay At Home Refunds as it becomes first to bow to pressure to give back as policyholders use vehicles less.
Blog: Open or closed – the branch dilemma facing brokers
As the first working week of self-isolation comes to a close for many, Insurance Age content director Jonathan Swift looks at the stance brokers are taking in terms shutting up shop or keeping their branches open.
Reserve releases drive bumper 2019 at Admiral
Increase in UK profits of £41m absorbed losses made in international insurance, Admiral Loans, and other business.
Admiral co-founder and CEO to step down
David Stevens will be replaced by Milena Mondini de Focatiis, currently head of UK and European Insurance.
Insurers most at risk from FCA pricing review named by analyst
Analyst firm Peel Hunt highlighted Direct Line, RSA and Saga as particularly vulnerable.
Most complained about insurer revealed
Data from the Financial Conduct Authority highlighted the most complained about providers and brokers.
Latest Ogden rate change will cost the industry over £160m
Insurers have revealed the impact from the change in the discount rate to -0.25%.
Quizzical Questions: 16 August 2019
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Admiral reveals £33m Ogden hit in H1 2019
Provider posts modest turnover and profit rises.