Admiral car insurance welcomes profit boost
Results from insurance group Admiral have been boosted by rising sales of car insurance and higher premiums. Pre-tax profits for the first six months of the year came in at £160.6m, up 27% compared with the same period last year.
Total sales rose more than 50% to pass the £1bn mark for a half year for the first time. The Cardiff-based group also owns brands such as Confused.com, Elephant.co.uk and Diamond.
The chief operating officer of Admiral Group David Stevens says while they are making less money per car they cover, the company are "able to do car insurance more efficiently".
24 Aug 2011
- From the section Business