UK leads on online car insurance
Wed, 07 Sep 2005
The UK online car insurance sector is enjoying a profitable period, despite a general slowdown in the industry.
Insurer Admiral Group has reported first-half profits for the six months to June 30 of £55.6 million, increasing 1.7 per cent on the same period in 2004 and just below market predictions of £55.8 million.
Although competition in the UK market remains high, Admiral is hoping that its strong online presence will help maintain its good fortunes for the remaining six months of the year, especially if the company decides to expand into other European markets in Germany, France, Italy and Spain.
Admiral chief executive Henry Englehardt, speaking to AFX News, remains cautious.
He added: "The UK is arguably the world leader in internet car insurance, and a lot of what we've learned is transportable. But anything we do would be small-scale." 
© Adfero Ltd
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