Juzzle
- 23 Nov 2004 14:12
mitzy
- 09 Nov 2011 08:44
- 35 of 105
Careful now.
HARRYCAT
- 09 Nov 2011 08:44
- 36 of 105
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.
mitzy
- 09 Nov 2011 08:45
- 37 of 105
Based on the 6 year chart private.
gibby
- 09 Nov 2011 08:45
- 38 of 105
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
gibby
- 09 Nov 2011 08:47
- 39 of 105
noted virtually all at trades :-))))))))))))
skinny
- 09 Nov 2011 08:49
- 40 of 105
gibby - I wish I had a pound for every buy note I've had on these in the last month or so.
gibby
- 09 Nov 2011 09:06
- 41 of 105
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
privatesharedealer
- 09 Nov 2011 09:08
- 42 of 105
@mitzy - surely you can't see ADM dropping to 300p can you?
Forecast yield would then be almost 30%
HARRYCAT
- 09 Nov 2011 09:10
- 43 of 105
"....this sp to my view is excellent buy in opp" ....how can you possibly know where the sp will settle gibby? Buying now is a pure punt for an anticipated bounce which may not come.
gibby
- 09 Nov 2011 09:27
- 44 of 105
lol hc - no its a bit more than finger in the air - basing it on the fact that 12 mth low 815 when adm not in such good shape, record profits will be announced even if q4 claims go up - note they only said IF q4 claims go up and even if they do still post record profits, continuous growth expected through 2012 and beyond et cetera - tasty invesment
gibby
- 09 Nov 2011 09:29
- 45 of 105
wow used the strong and it didnt stick again!! :-)))) adm will bounce question is when - looking for ii movement personally as this is ftse only a tad over 270M shares in issue
mitzy
- 09 Nov 2011 09:53
- 46 of 105
Profit warnings usually come in 3's and today was the first one.
HARRYCAT
- 09 Nov 2011 11:40
- 47 of 105
Investec says that dark clouds [are] forming at insurance giant Admiral, as it reiterates its sell rating and 843p target.
Shares plunged on Wednesday morning after the firms statement which warned 2011 profits would be at the lower end of expectations (just 10% higher than 2010) due to a jump in personal injury claims.
We see this IMS as an admission that Admiral is not immune from market forces and this will disappoint the market, we believe. It remains our view that significantly out-performing a commoditised market for sustained periods is impossible, said Investec analyst Kevin Ryan.
gibby
- 09 Nov 2011 12:05
- 48 of 105
investec what do they know LOL
in these market to increase profits by JUST 10 % is good going and that is only if things go bad currently ahead of that - i wonder how Investec are performing right now lol
HARRYCAT
- 09 Nov 2011 12:24
- 49 of 105
Markets are forward looking, hence the drop.
mitzy
- 09 Nov 2011 12:44
- 50 of 105
I remember Independent insurance which rose from nothing to 2000p and then collapsed and the Director Alan Bright went to jail for fraud..I got out of them a week before they went to the wall..not suggestimg any wromg doing here.
Its dog eat dog in the insurance market.
gibby
- 09 Nov 2011 13:10
- 51 of 105
lol yes - i know a real good buy homeserve LOL!!! wonder how much worse it will get there - thousands of wrong selling claims going in against them!!
gibby
- 09 Nov 2011 13:11
- 52 of 105
wouldnt want to be in homeserve right now - in fact anytime at all!!!
gibby
- 09 Nov 2011 13:30
- 53 of 105
hmm mini revival
gibby
- 09 Nov 2011 13:52
- 54 of 105
lol lol lol bouncing!!!!!!!!!!!!!!!!!!!!!!!