JONATHAN JACKSON | KILLIK & CO
The claims environment remains tough, with the frequency and expected cost of new large personal injury claims remaining above historical levels – consistent with the first half of 2011
KEVIN RYAN | INVESTEC
It remains our view that significantly outperforming a commoditised market for sustained periods is impossible. It appears to us that the market is catching up with Admiral.
JOY FERNEYHOUGH | ESPIRITO SANTO
Much will depend on management’s ability to demonstrate whether it has drawn a line in the sand here, or if this is likely to cause further damage to the profit and loss account and Admiral’s premium franchise.