Company website is www.admiralgroup.co.uk

From Hargeaves Lansdown:
Thu 25 August 2011 06:41
Admiral's shares suffered yesterday, says the Investment Column at the Independent. The company reported high headline numbers: first-half profits of 16.6m were 27 per cent ahead of the same period last year, while turnover rose by 53 per cent to 1.1bn. But some analysts expected better for the shares to justify their lofty rating. Their main worry was the cost of big personal injury claims from prior years, which appear to have increased considerably. We said avoid back in March, with the shares at 1,665p. That has proved to be sound advice. However, even after their recent falls, the shares still trade at 17 times full-year earnings. Given that premium prices are slowing and the increase in those injury claims, the fact that the company is going to find it tough to maintain its growth levels, and our concerns over service, the shares are too pricey. Avoid, says the Independent.

Harry just insured my car with them. I will let you decide if this makes a difference to future profits.lol

Harry - I think panmure had them as a buy after yesterday's figures.

Well, it will so long as you don't claim, dc. So drive carefully!

Actually it was Nomura as highlighted in your post of yesterday - I'm losing the plot!

Be nice Harry. I can do a lot of damage with my 4X4 lol

RNS Number : 0804N

Admiral Group PLC

26 August 2011

Admiral Group plc

25 August 2011

This disclosure relates to transactions of which notification is required under paragraph 3.1.2 of the Disclosure Rules.

Admiral Group Chairman, Alastair Lyons, has today bought 20,000 Admiral Group plc shares at an average price of GBP12.72.

Alastair Lyons and Family now hold a total 482,152 ordinary shares in Admiral Group.

Bounce today, but for how long?

Interesting day ?

RNS Number : 9445N

Admiral Group PLC

09 September 2011

Admiral Group plc

9 September 2011

Statement on Ministry of Justice Ban on Referral Fees

Admiral Group notes that the Ministry of Justice has confirmed it will impose a ban on the payment of referral fees in personal injury cases. Admiral welcomes any action taken to curb the compensation culture that currently exists in the UK motor insurance market. We reiterate the disclosure provided during 2011 interim results presentation:

- Admiral does not sell customer data; if one of our policyholders has a non-fault accident, suffers a bodily injury and they require assistance, we will put them in touch with a personal injury lawyer

- Personal injury referral fees account for a small proportion of profits; c6% of UK car insurance profit before tax

Admiral will consider appropriate action as and when further details of the implementation of the ban are made available.

This is overvalued fair value is 300p

rns very good overall - big panic here expect more bounce - keep an eye out here lol

@mitzy - What on earth do you base your valuation of 300p on?

Careful now.

StockMarketWire.com
Car insurance specialist Admiral Group said this morning that turnover increased by 30% to 582m in the period since 1st July (Q3 2010: 446m).

Group vehicle count increased 27% to 3.3 million (Q3 2010: 2.6 million)

International car insurance turnover was up 45% to 27m (Q3 2010: 18.6m).

International car insurance vehicle count was up 53% to 267,000 (Q3 2010: 175,000).

The annualised UK vehicle count growth rate was just over 13%.

Modest UK premium rate increases were achieved and UK ancillary contribution per vehicle was in line with H1 2011.

The combined ratio remains significantly lower than the market and the financial position remains strong, Admiral said.

Henry Engelhardt, CEO, said: "Admiral now insures over three million vehicles. This is a great achievement and provides a fantastic base from which to continue our long sustained growth in the scale of our business and its profitability.

"Across 2011 as a whole we are likely to have grown our UK vehicle count by more than 20%. Our international insurance business also continues to achieve strong growth and further improvement in operating results.

"Notwithstanding the continued higher level of large claims in the quarter, I expect us to once again report record profits for the full year, probably some 10% higher than last year. I am confident that with Admiral's enlarged customer base and significant combined ratio advantage we are in a strong position for sustained long term growth and good news in 2012 and beyond."

Admiral said its claims experience in Q3, if replicated in Q4, would lead to a small improvement at the end of the year in the aggregate projected ultimate loss ratios for the back years (2000-2009).

However, consistent with the trend reported in H1 2011, the frequency and expected cost of new large personal injury claims has remained above historical levels of experience.

This leads the group currently to expect some adverse development at the full year on the projected ultimate loss ratios for 2010 and 2011 which would affect both overall reserve movements and recognised profit commission.

If there is no reversal in Q4 of this higher than normal level of large claims, Admiral anticipates that full year pre-tax profits will be towards the lower end of the range of analysts' estimates, or some 10% ahead of 2010, with no further reserve releases in the second half.

Based on the 6 year chart private.

yes broker targets to 1900 lol...........

25-Oct-11 Nomura Buy 1,220.00p 1,900.00p - Reiteration
19-Oct-11 Credit Suisse Underperform 1,225.00p 1,500.00p - Reiteration
10-Oct-11 Nomura Buy 1,246.00p 1,900.00p - Reiteration


i feel a yeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

noted virtually all at trades :-))))))))))))

gibby - I wish I had a pound for every buy note I've had on these in the last month or so.

lol skinny even so at this sp??? & ref rns "Notwithstanding the continued higher level of large claims in the quarter, I expect us to once again report record profits for the full year, probably some 10% higher than last year. I am confident that with Admiral's enlarged customer base and significant combined ratio advantage we are in a strong position for sustained long term growth and good news in 2012 and beyond."

this sp to my view is excellent buy in opp

@mitzy - surely you can't see ADM dropping to 300p can you?
Forecast yield would then be almost 30%