Admiral
Scepticism remains over ‘underwriting discipline’ in Q3
Full-year results expected to take a hit from St Jude storm.
Editor's comment: Pass me a fork
It appears you can teach an old dog new tricks. Not so long ago I used this space to berate insurers for their lack of action in commercial underwriting, with firms talking the talk but not walking the walk.
Admiral 'on track' for full year despite falling UK revenue
Insurer Admiral said it its ‘on track to meet expectations for the full year’ despite the shrinkage of its UK motor business in the third quarter.
Expert Analysis: Autumn watch
IGO4’s aggregator analysis reveals that while demand for motor quotes remains high, home insurance has stalled at a disappointing level.
Post Intelligence – company profile: Admiral Group plc
Following a difficult time with motor insurance, Admiral Group issued a profit warning in FY12.
Money Supermarket slams rivals’ use of wide ‘most favoured nation’ clauses
Comparison site tells Competition Commission wide MFNs are ‘anti-competitive’.
Editor's comment: Falling out of favour
Insurers received a surprise this week when some of the market’s aggregators agreed with them over an issue that has been gnawing away at them for some time, most favoured nation clauses.
PI law firm wants apology from Admiral
Personal injury law firm Thompsons Solicitors has asked Admiral to apologise for misleading the public about personal injury costs after it revealed a rise in profits in its half year results yesterday.
Admiral’s ABSs will not contribute 'materially' to group’s profits
Admiral’s joint legal ventures with Lyons Davidson and Cordner Lewis will not “make a material contribution in the foreseeable future”, according to the insurer’s chief financial officer Kevin Chidwick.
Admiral's shrinking UK motor share behind 7% fall in H1 turnover
Motor insurer Admiral saw turnover fall 7% to £1.089m in the first half of 2013, down from £1.169m in the first six months of 2012.
Website review: Confused: Is it time for an MOT for Confused.com?
Compuware evaluated the web performance of Confused’s car insurance website between 17 May and 19 June using Gomez’s performance benchmark.
Admiral apologises over Welsh language complaint
Admiral Insurance has apologised to a Welsh-speaking customer who was told every conversation had to be recorded in English to satisfy regulators, the BBC reported.
Claimants View: Misinformation has public running scared
Motor insurers are not suckers for punishment – suckers do not make multimillion-pound profits.
Analysts warn Direct Line is playing "catch up" on costs base despite 2000 job cuts
Liverpool, London and Croydon offices due to close in expanded cuts programme.
Octo eyes up UK telematics opportunities
Telematics systems provider Octo Telematics has relocated its frontline operation from Italy to London in a bid to take advantage of opportunities in the burgeoning UK telematics market and to build stronger ties with both the insurance and manufacturing…
Post Audio Supplement - 13 June 2013
Too busy to read the magazine or website? Want a quick update on the latest news?
FCA tells sector to change its ways in motor legal expenses insurance review
Industry reacts to recommendations including opt-in sale of MLEI cover
Alternative Business Structures: Is this the future?
Into the wild
Admiral profitability 'under pressure'
Admiral’s “unprofitable foreign growth” does not compensate for the “fast-declining” UK profitability, according to a scathing analysts report.
Admiral reports 9% fall in UK turnover
Admiral chief executive Henry Engelhardt has said that now "is not the right time to grow" its market share in the UK after turnover fell 9% to £470m (Q1 2012: £518m) in the first quarter of this year.
Expert Analysis: Making changes
Price comparison sites are making changes to the way they operate, embracing telematics and moving into new product lines.
Website review: More Than’s site less than adequate
Loading times of up to 14 seconds contribute to site’s low score, says Gomez.
Admiral enters legal JVs with Lyons Davidson, Cordner Lewis
Admiral has received approval from the Solicitors Regulation Authority for new joint ventures launched in partnership with two law firms
Increased shareholder scrutiny puts spotlight on insurance CEO pay
Insurers are more cautious and keen to be transparent over executive remuneration after last year’s ‘shareholder spring’, according to analysts, with recommendations for boss’s pay packets swelling in the past 12 months.