WELSH car insurance business Admiral yesterday reported a dip in revenues as UK car insurance premiums declined for the first time in many years.
As a result group revenues fell six per cent to £551m during the first three months of 2013.
“Year-on-year UK car insurance market premiums are down around 10 per cent,” said Admiral chief executive Henry Engelhardt.
“Not surprisingly our turnover has also fallen, but, as we have said before, we continue to be focused on margin not volume and we believe this is not the right time for us to grow our market share in the UK.”
The number of British drivers insured by Admiral remained flat at 3m, although the overseas business grew to 458,000 customers and generated £48m in revenue.
Eamonn Flanagan, an analyst with Shore Capital, said the drop in premiums and the Competition Commission probe into the UK car insurance industry should alarm Admiral investors.
“We view the shares as materially overvalued given the risks to earnings and margins from the plethora of regulatory and other issues currently surrounding the UK personal motor insurance industry,” he explained.
Short Term bCar Insurance Uk/b-Benefits of Day Car Insurance b.../b
Benefits of Day Car Insurance!
If you are a traveller who needs to undertake a journey for a day, you can benefit from day car insurance. This type of insurance cover is meant for people who are planning to travel for a day. With this kind of insurance, you can look forward to cover yourself against any kind of risky situations that may crop up unexpectedly. The cover is most suitable for day travellers who are undertaking a journey for a day. If you or any of your friend is looking to borrow a car from a friend, it is advisable you must avail this kind of insurance cover.
Short term periods of 1 to 28 days:
Short term car insurance is basically intended for those who are looking forward to travel for a day. The short term cover is suitable for those who are looking forward to travel for a day. There may be various kinds of situations wherein you may be forced to borrow a car from a friend or a relative. With this kind of cover, you can easily get covered against any kind of insurance.
This kind of cover is quite popular with car drivers in UK. There may be times when you may be required to borrow a car from a friend or a relative to drive for a short distance. In such type of circumstance, it becomes a must to have a cover like this. It provides complete protection to a driver.
It is a very common type of cover. It keeps you protected against any kind of risky situations. You can get a cover in a short period of time. It is valid only for a day. Hence, if you have bought a car recently, you can benefit from this kind of cover. If you are looking forward to visit a friend of yours for a day, you can benefit from this cover. The cover is available only for a day. You can also choose from various different types of policies. If you are confused about which cover to choose from, you can also look online. This will help you get all the required information in a short period of time.
The cover is basically meant for a day. There are many benefits of this kind of a cover. It is not only: