Company website is www.admiralgroup.co.uk

Markets are forward looking, hence the drop.

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.

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!!

wouldnt want to be in homeserve right now - in fact anytime at all!!!

hmm mini revival

lol lol lol bouncing!!!!!!!!!!!!!!!!!!!!!!!

yeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

easy wonger again!! :-))))))))))))))))))))))))))) ftse 100 co bouncing

get in there!!!!!!!!!!!!!!!!!!!

:-)))))))))))))))))))))))))))))))

lol back to 9 squid

strong last hour ahead - yeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaa

we're off again

what a day - iis been waiting for a weakness like this and been snapping up panic sells and at triggers - additionally ceo bought another 1 million shares - looking fwd to tomorrow - satisfactory day at the office :-)

very interesting day tomorrow especially in current mkt conditions - wonder how many will follow the money the 1M ceo buy today and other director buying is more than interesting additionally:

09-Nov-11 Nomura Buy 887.50p 1,900.00p - Reiteration

gla

Still a sell.

:-)

"UBS has downgraded insurance titan Admiral from buy to neutral and slashed the target price by a whopping 45%, from 1,610p to 890p, following the groups statement yesterday which resulted in over a quarter of its market value being lost.

Although we believe that Admiral remains among the best managed non-life companies in Europe, earnings transparency is low until the reasons for the acceleration in large bodily injury claims become clear, said UBS analyst James Pearce.

Other brokers have cut their ratings and/or targets today on the stock: Nomura kept its buy rating but reduced its target price from 1,900p to 1,100p; Credit Suisse downgrades from neutral to underperform, target cut from 1,500p to 1,100p."

Brokers' round-up, major downgrades for Admiral Group
StockMarketWire.com
UBS downgrades Admiral Group from buy to neutral, target price cut from 1610p to 890p.

Credit Suisse downgrades Admiral Group from underperform to neutral, target price cut from 1500p to 1100p.

Deutsche Bank downgrades Admiral Group from buy to hold, target price cut from 1500p to 1100p.

Collins Stewart downgrades Admiral Group from buy to hold, target price cut from 1700p to 880p.

Numis downgrades Admiral Group from buy to add, target price 1040p.

Its disgraceful (but nothing new) the number of brokers that have recently been issuing buy notes on this with 19 targets.

numpties each and every one.

{ Rachel Cooper, 19:50, Friday 2 December 2011

As the blue-chips steamed ahead, Admiral was becalmed as analysts forecast stormy waters ahead for the insurer

Last month, Admiral shocked the market with a warning that profits this year could come in at the lower end of expectations due to a jump in injury claims, succumbing to an industry trend that the motor insurer had previously resisted.

Admirals shares have fallen 40pc in the past year and 24pc since the profit warning alone, and analysts at RBC (MCX: RBCI.ME - news) cautioned that they do not expect a recovery following underperformance.

Beginning coverage of Admiral with an underperform rating, the broker argued that competition could intensify, partly due to the proliferation of price comparison websites that allow customers to track down the best deals.

We believe that the price comparison sites should continue to grow in popularity and further dominate the UK car insurance market, said analysts. The benefits to the customer are high, which should increase their popularity as the number of customers using the Internet to purchase insurance increases over time. We view this as negative for the profitability of the industry, as price competition should increase further, leading to declining margins.

But having dipped as low as 872p, Admiral finished just a hapenny lower at 911p while banks and other financials helped lead the blue-chips higher.