Will reduce ceded co-insurance premium by 5% in 2008
Admiral Group is to increase its UK motor premium retention for the 2008 underwriting year to 27.5% from the current 22.5%.
The motor insurer said this reflected the structure of the group's existing coinsurance contracts under which the percentage of premiums ceded to co-insurers reduces by 5% for 2008.
The insurer said in a Stock Exchange statement: "Having considered alternative options, the Board has decided to retain the additional 5% risk within the Group. The terms of the co-insurance contract and the other reinsurance arrangements announced last year remain unchanged."
