Customers increase 18% and 16% rise in vehicles insured
Admiral increased turnover 18% to £270m in the first three months of 2009, compared to the prior year quarter.
Admiral, which sells insurance under the Admiral, Bell, Diamond and Elephant.co.uk brands, also announced an 18% increase in customers to 1.85m and a 16% rise in the number of vehicles insured in the UK to £1.67m.
Admiral Group chief executive Harry Engelhardt said: “Against a backdrop of price increases in the UK motor market Admiral increased premium rates whilst simultaneously growing the number of vehicles we insure by 16% year on year. The ancillary income per vehicle was maintained at £70.
“Our international insurance operations have made steady progress since our last report. We are also making good progress in preparing for the launch of our US insurance operation before the end of Q1 2010."
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