Admiral Profits

[simoid]

..will only grow by 10% this year, partly due to increased personal injury claims. Poor bunnies.

http://www.bbc.co.uk/news/uk-wales-15651025

[ZOLLAR]

simoid said:

..will only grow by 10% this year, partly due to increased personal injury claims. Poor bunnies.

http://www.bbc.co.uk/news/uk-wales-15651025

Yeah but look at our shares
But not too bad think I'll buy a bundle and make a mint In a year or two

[Snowboy]

Good.
If they are making a profit my premium won't go up.

But, as their share price has dropped by 20% I might need to buy a few shares – I'm sure it'll go up again.

[U T]

Insurers making a profit...how dare they!!

Anyone would think they were in business to make money.

[NicePlaceToBe]

Look you, "only firm in Wales in the FTSE list of 100 top companies"!

[LongLiveTazio]

U T said:

Insurers making a profit...how dare they!!

Anyone would think they were in business to make money.

Bit different to them moaning there's no margin in it though.

[Snowboy]

"a pre-tax profit of £266m."

A really bad insurance claim can cost the insurer £15million.
How much does an average crash cost to an insurer on payouts?

I wonder how many extra crashes and claims it would take to wipe out that profit?

[ZOLLAR]

LongLiveTazio said:

Bit different to them moaning there's no margin in it though.

Except Admiral have never said there was no margin in it.

[VR6 Turbo]

ZOLLAR said:

Except Admiral have never said there was no margin in it.

I think he's getting confused with the chap who's on here that tell everyone there's no profit in insurance and that they don't make a profit on your first premium.

VR

[U T]

I think overall UK motor insurance runs at a loss. But of course within that some individual insurers will make a profit. Good for them I say. It's not a bleedin' charity!

[matthias73]

U T said:

I think overall UK motor insurance runs at a loss. But of course within that some individual insurers will make a profit. Good for them I say. It's not a bleedin' charity!

No, its something you must have as required by law, for something that is a neccesity for most people, without provisions for this necessity to be made accessable for everyone, and you should remember that.

So its not quite like buying something you want from a shop, and complaining that they are making profit from you.

I understand insurance is pretty much neccesary, but the fact its a legal requirement, brought in by our glorious leaders at some point, and then left to private business to earn money from, makes me want to hurt things, especially that fat admiral on the admiral adverts.

[Deva Link]

matthias73 said:

No, its something you must have as required by law,

Only if you want to drive.

[kambites]

I don't think anyone has ever claimed that the insurance industry as a whole makes a loss... just the motoring bit.

I don't know if they will produce results broken down by division?

Edited by kambites on Wednesday 9th November 18:38

[43034]

ZOLLAR said:

Yeah but look at our shares
But not too bad think I'll buy a bundle and make a mint In a year or two

My brother said shares have gone to £8 now? They were £17 when he started not too long ago.

[kambites]

43034 said:

My brother said shares have gone to £8 now? They were £17 when he started not too long ago.

Ouch!

[43034]

kambites said:

Ouch!

I say not too long ago, It was just over a year ago. Time flies!!

[ZOLLAR]

43034 said:

My brother said shares have gone to £8 now? They were £17 when he started not too long ago.

Yep £17.52 IIRC is the highest, huge drop today biggest I've seen in years.
As staff we're not worried we know the reasons for the drop most beyond the companies control and the ones we can control are being made priorities.
Admiral is still in a good position within the market as another poster said the price no doubt will go back up which is good as the lower the price the more shares we get

[Fetchez la vache]

kambites said:

I don't think anyone has ever claimed that the insurance industry as a whole makes a loss... just the motoring bit.

I don't know if they will produce results broken down by division?

To be honest, since I believe Admiral own confused.com, and confused.com have a 60-70% share of the online agregator market, I'm not surprised they're making st loads...
I imagine the lions share of that profit is from them.

[Baz Tench]

U T said:

I think overall UK motor insurance runs at a loss. But of course within that some individual insurers will make a profit. Good for them I say. It's not a bleedin' charity!

Why have the insurance companies got away with this 'we run at a loss' story for so long? Every tv commercial break is brimming with car insurance ads at the most expensive times (7:00pm to 9:00pm), and ask yourself - would those profit hungry people at Tesco be in it if there was nothing to be gained??

Every man and his dog is trying to get on the bandwagon, and have been for years...

[ZOLLAR]

Baz Tench said:

U T said:

I think overall UK motor insurance runs at a loss. But of course within that some individual insurers will make a profit. Good for them I say. It's not a bleedin' charity!

Why have the insurance companies got away with this 'we run at a loss' story for so long? Every tv commercial break is brimming with car insurance ads at the most expensive times (7:00pm to 9:00pm), and ask yourself - would those profit hungry people at Tesco be in it if there was nothing to be gained??

Every man and his dog is trying to get on the bandwagon, and have been for years...

When was the last time you saw an Elephant, Bell, Diamond or admiral single car insurance advert?, not for at least a year probably.
Only TV advert for admiral is multicar (which produces the the most policies) and confused.com.
Apart from the russian doll advert all adverts are produced in house, this keeps costs low, also one of the reasons the adverts are cartoons.
You don't have to pay cartoons a salary or agency cost