Admiral revenues up 50pc in first-quarter

Admiral Group revenues rose by more than 50 per cent in their first quarter.

The car insurer, and owner of Confused.com, said year-on-year turnover also grew by 56 per cent to £539m in the first three months of the year.

Shares were pushed to 4.4 per cent thanks to higher premiums and more customers, they said.

Chief executive Henry Engelhardt said: “Admiral’s UK car insurance business had another great quarter and has continued to benefit from positive market conditions.”

According to the Cardiff-based company, the number of vehicles insured by them grew 33 per cent to around £2.9m in the three months to 31 March.