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Admiral Car Insurance 
Admiral
Car Insurance Review
Website:
http://www.admiral.com
Please
note that this is our Admiral car insurance review. If you want to
review current Admiral car insurance policy features, please use our
'Admiral Car Insurance' link above.
Admiral, that specialises in car insurance, was launched in January
1993. They added their now popular multicar policy in December 2005
which you can also review via the above link.
The Admiral car insurance head office is in Cardiff, Wales, with
offices in various other locations including Halifax, Nova
Scotia. They employ 3,500 people and have over 2.5m customers.
Their 2010-11 turnover was £1.7bn. They are a popular employer,
with the Sunday Times employer review listing them as one of the best
companies to work for, every year.
Admiral floated on the stock exchange in September 2004 and they are a
FTSE100 listed company. At the end of 2011, Admiral, that has the most
cost-efficient underwriting model of any car insurance provider,
reported a profit warning after their own expert analyst's review.
Their profit drop was attributed to the ever-increasing cost of
settling personal injury claims.
Until then, Admiral had been the darling of the City with good reason.
In January 2011, they were trading on a price to earnings ratio of 20,
an incredible achievement for an operator in the highly competitive car
insurance market where most rivals were experiencing losses owing to
the huge increases in costly personal injury claims.
The City had been twtchy when a referral fee ban was agreed as some
believed that Admiral was over-reliant on their ancilliary income
rather than premium receipts, something that Admiral denied.
Their strategic review that led to the development of their Admiral
multicar policy was a inspired exploitation of a niche market in whcih
they were not in direct competition with price comparison sites. This
undoubtedly assisted their rapid growth which was associated with a
doubling of their turnover to 2011.
Admiral's more efficient underwriting model also allowed them to keep
down car insurance premiums which helped them to rapidly gain market
share especially when providing cover for higher risk groups, notably
young dirvers, that they specifically targeted in their early days
although Admiral is now less niche-focused, providing cover for all
ranges of risk.
The above Admiral car insurance review, although believed to be
correct, does not take account of any changes that may have occured
since the review was written.
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