Admiral
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
Test your knowledge of the week's news with our topical quiz.
Admiral reveals £33m Ogden hit in H1 2019
Provider posts modest turnover and profit rises.
Blog: Insurance industry needs to reassess its workplace strategy
Jennifer Townsend of Knight Frank argues that it's time for the insurance industry to put its people first.
Profit soars at Admiral in 2018
But the provider's UK household segment reports loss after weather impact.
Turnover and profit rise at Admiral in H1 2018
UK aggregator Confused also reports growth.
Aviva’s Townend replaces Amanda Blanc as IFB chair
LV’s Milliner and Matt Patterson, of Admiral and David Baker, of Direct Line, have also been appointed to the fraud taskforce board.
FCA goes on attack against "unacceptable" renewal failings
Regulator warns general insurance firms after widespread failings to comply with new rules on renewal transparency.
Admiral reports growth in 2017
However its Confused aggregator sees profits slip following marketing and product development spend.
Review of the year: June 2017
Acquisitions, the Queen's Speech, redundancies, fraud and orders from the FCA made up the most read stories in June.
Confused.com sees profits halve for start of 2017
Admiral’s price comparison website made a pre-tax profit of £4.5m.
The Blog Spot: A question of trust
Personal lines brokers are expected to build trusted relationships at a time when margins, especially in personal lines are squeezed and time is tight. But are these relationships becoming too transactional?