Admiral
Admiral posts reduced profit for first time since float
Admiral Group posted a profit of £357m for 2014, the first fall in profit since its stock market flotation in 2004.
ABSs highlighted as claims upsurge threat as CMC numbers dwindle
The rapid demise of claims management companies and the subsequent reduction in bodily injury claims is in danger of being offset by the future strategy of insurance companies with alternative business structures, according to market observers.
Smaller motor players facing market exit amid intense competition
Cut-throat competition and meagre rate rises in the motor market could force smaller players to plot an exit, according to industry analysts, as “brinkmanship” continues among certain insurers over potential price increases.
Admiral seeks more than 250 new recruits
Admiral is recruiting for more than 250 jobs across its contact centres, IT department and law firms.
Prudential finance director James joins Admiral board
Admiral has appointed Prudential's finance director Penny James as a non-executive director.
Penny Black: The Ghost of Christmases Past
Lady-about-town Penny Black has been publishing her insurance industry gossip and insider news and views in three centuries - so she's seen a fair few insurance Christmases, some bawdier than others, and all of them fuelled by the finest G&Ts the…
Personal injury claims on the up in motor as hearing loss claims rise too
Analysts predicting full year squeeze on profitability after Q3 results
Admiral Q3 turnover drops despite 10% increase in customer numbers
Admiral has seen group turnover decrease 3% to £513m in spite of a 10% increase in the insurer’s total number of customers, which reached 4.03m in Q3.
Admiral signs data warehouse deal with Teradata to support transformation programme
Insurer Admiral has signed a deal with big data analytics and marketing applications specialist Teradata to support its business transformation programme.
Reserve releases aid insurers in posting first profit since 2006
The UK property and casualty sector is set to post a profit for the first time since 2006, with the average combined operating ratio expected to be around 96.5% for 2013, according to Moody’s.
Telematics M&As tipped to hit peak as Admiral mulls Insure the Box purchase
Rumoured deal follows those involving Wunelli and Ingenie in recent months.
Analysts criticise insurers’ use of reserve releases for distorting H1 results picture
Admiral boss Engelhardt calls focus on reserves in financial reporting ‘bizarre’
Market Moves - 21/28 August 2014
All the latest job moves in the insurance market.
Post Blog: Five reasons why Admiral and Insure the Box make good bed fellows
Earlier this week Postonline revealed Admiral was weighing up a bid for the UK’s leading telematics player Insure the Box.
More pain predicted for motor market as regulation rears its head
Listed insurers Esure, Admiral and Direct Line Group are expected to fare better than most as the motor market enters the toughest part of the underwriting cycle, according to a note published by Berenberg.
Engelhardt hits out at ‘bizarre’ reserve release focus
Admiral group chief executive Henry Engelhardt has labelled concerns on the role of reserve releases in the insurer’s UK motor profitability as “bizarre”.
Admiral’s Chidwick hands CFO remit to deputy
Admiral group chief financial officer Kevin Chidwick is to hand his role to his deputy Geraint Jones in a bid to focus more on the insurer’s US business.
Admiral UK motor profits up 8% on boosted reserve releases
Admiral’s UK motor business has seen profits increase 8% following £73m of reserve releases in the first half of 2014.
Admiral weighing up bid for UK's leading telematics player Insure the Box
Admiral is evaluating a bid for telematics firm Insure The Box just months after announcing a £200m cash raise, Post understands.
Add ons review ‘gloomy reading’ for motor insurers
A regulatory review of the sale of general insurance add ons makes for “gloomy reading” for insurers including Direct Line, Esure and Admiral according to one analyst.
UK motor market not seeing 'sustained recovery in prices'
Despite investor hopes of a hardening market for UK motor, no insurer is making the level of losses needed to spark “a sustained recovery in prices”, according to research from Exane BNP Paribas.
Admiral to post tumbling H1 turnover
Admiral will post slipping turnover figures for H1 next month, in spite of increased numbers of customers both in the UK and group wide.
Insurance companies failing to respond to online questions
An online customer service study of ten major UK insurance players has revealed that just 30% of emails and tweets are responded to successfully.
Aviva top of the pile for digital user experience in motor
Personal lines insurers are lagging behind price comparison sites in terms of digital user experience, financial technology company Instinct Studios has warned.