Admiral on target as turnover rises

Insurer Admiral has said it remains on track to meet its forecasts for the year in a trading update.

Turnover soared 50 per cent during the third quarter to £446m and the number of vehicles covered by the group was 28 per cent higher than the same time last year.

"I'm pleased to report that not much has changed since our 2010 interim results; the UK business remains the driving force of the group's success and we continue to develop our international businesses,” chief executive Henry Engelhardt said.

Chief executive Henry Engelhardt said: "Our UK car insurance operation continues to benefit from positive market conditions; we grew vehicle count by 28 per cent year-on-year to over 2.3m whilst also increasing premium rates."