Editor's comment: Coming back to bite
Confident words have a nasty habit of coming back to haunt you – as Admiral’s CEO Henry Engelhardt discovered to his cost this week. From stockmarket darling to deep disappointer inside nine months, the motor-focused UK insurer has certainly suffered a backlash as its shares nosedived.
On posting a 33% UK motor profit rise to £276m in March, Engelhardt declared it had no bodily injury problem – unlike the frequent citations by pretty much every rival. He added: “The big success was
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