Admiral turnover up 18%
Admiral’s turnover increased 18% to £270m in the first three months of this year, compared with the same quarter in 2008. The company, which sells insurance under the Admiral, Bell, Diamond, Confused.com 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. “Against a backdrop of price increases in the UK motor market, Admiral increased premium rates while growing the number of vehicles we insure by 16% year on year. The ancillary income per vehicle was maintained at £70,” said Henry Engelhardt, chief executive.
RiIG sells loss adjusters
The AIM-listed insurance claims facility provider, Resources in Insurance Group plc, has completed the sale of its loss adjusting division, CPA. “The sale removes areas of potential conflict,” said John French executive chairman of RiIG.
Fortis rating positive
The credit ratings agency Standard & Poor’s has revised its credit watch on Fortis Group to positive after the group sold its banking divisions to BNP Paribas. The agency expects the rating to improve in the next month.