Admiral hit by growth fears despite gains August 24, 2011 CAR insurance group Admiral shrugged off fears over the UK economy to post further double-digit profit and turnover gains in the first half of the year, but saw its share price slide due to fears over its business model. Admiral, which owns the price comparison site confused.com, said its pre-tax profit jumped 27 per cent, [...]
Admiral shares slide despite profit rise August 24, 2011 Car insurance group Admiral has posted a bullish 27 per cent increase in its profit in the first half of the year as it said the outlook for the UK car insurance market was improving. Admiral, an internet-based insurer and owner of comparison site confused.com, saw group turnover jump 53 per cent to more than [...]
THERE IS NO BATTLE: KLOSTERMANN DENIES FRAUD LORD FEUD August 18, 2011 DON’T BELIEVE the “tittle tattle” you read in the gossip columns, says Brocket Hall owner Dieter Klostermann, who yesterday turned to this gossip column to put the record straight about that feud with Lord Charlie Brocket. Klostermann’s leisure group CCA International bought Brocket Hall in 1996, after Brocket was jailed for a £4.5m classic cars [...]
CAR TALK August 16, 2011 PRIUS PLUG-IN Toyota is introducing a plug-in version of its Prius hybrid electric car at the Frankfurt Motor Show in September. The Prius Plug-in Hybrid Electric Vehicle (PHEV) has an extended EV (electric power only) range – of up to 12.5 miles – and can achieve 128 mpg and has CO2 emissions of just 49g/km, [...]
Riot and looting damage will cost UK well over £100m, insurers say August 9, 2011 RIOTS across London and other UK cities over the past four days caused “well over £100m” of damage to property and businesses, the insurance industry said yesterday. As residents and business owners across the capital and cities such as Birmingham, Leeds and Nottingham counted the cost of days of wrecking and looting, insurers raised their [...]
Insurers say London riot losses “well over £100m” August 9, 2011 Damage from riots in London has cost the capital “well over £100m” in insured losses, an insurance industry group has said. The Association of British Insurers has raised its estimate of the damage from three nights of violence and looting across swathes of London from “at least tens of millions” to more than£100m after it [...]
RSA praised for its results August 4, 2011 ROYAL & Sun Alliance chief executive Andy Haste stood down on a high yesterday after the home and car insurer posted profits ahead of all market expectations. RSA made £467m operating profit in the first half of the year, up 22 per cent on the same period in 2010 and well over the highest analyst [...]
BROCKET DIGS DEEP IN SPORTS CARS HUNT August 3, 2011 IT IS almost 13 years to the day since Lord Brocket walked free from Springhill open prison after serving two-and-half years for insurance fraud, and The Capitalist hears a party is potentially in the offing to mark the happy occasion. This will be no ordinary celebration though, if the outlandish suggestion actually becomes a reality [...]
Comparison site pays out a £20m divi August 2, 2011 PRICE comparison site moneysupermarket.com yesterday announced a special £20m dividend payment triggered by a 28 per cent revenue rise in the first half. Founder Simon Nixon, who owns 52 per cent of the shares, will pocket a £14m payout. The company rejected suggestions that Nixon, who has hinted he might sell his stake, forced the [...]
Esure’s profits surge as Wood takes charge July 27, 2011 HOME and car insurer Esure yesterday said it made £18.8m pre-tax profit in 2010 following a management buyout by Peter Wood, its insurance entrepreneur founder, last February. The lion’s share of profits came from its 49 per cent stake in comparison website GoCompare, which contributed £10.2m in eight months from April to the end of [...]