Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Admiral Group plc    ADM   GB00B02J6398

ADMIRAL GROUP PLC

(ADM)
  Report
Real-time Estimate Quote. Real-time Estimate CHI-X - 01/18 11:30:00 am
2927 GBX   +0.14%
01/14ADMIRAL : named a centre of Excellence in Wellbeing
PU
01/05INSIDER TRENDS : Insider at ASGN Awarded Stock Portion of Which is Sold for Taxes
MT
01/04ADMIRAL : Holding(s) in Company
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

UK insurers under fire as watchdog proposes 'radical' ban on loyalty penalties

09/22/2020 | 08:14am EST
FILE PHOTO: Heavy traffic as seen on the M3 motorway heading towards the English coast, near Southampton

Britain's Financial Conduct Authority (FCA) on Tuesday proposed stopping insurers from charging existing car and home insurance customers more than new ones in the latest crackdown on an industry grappling with costly COVID-19 claims.

One week after the FCA successfully brought a test case against eight insurers over their denial of business interruption claims, it said customers who renewed home or motor insurance policies should pay no more than new clients using the same sales channel.

"The FCA estimates that its proposals will save consumers 3.7 billion pounds ($4.74 billion) over 10 years," FCA interim chief executive Christopher Woolard said.

The regulator singled out "price walking", or complex pricing practices that allow insurers to raise prices for consumers who renew their car and home insurance policies year after year.

The Association of British Insurers said insurers and brokers had begun tackling the problem, but Sheldon Mills, the FCA's interim executive director of strategy and competition, said they had not gone far enough.

"This is a radical change we are putting forward today," he told a media briefing.

The FCA said it had identified 6 million policyholders paying high or very high margins in 2018, who could have saved 1.2 billion pounds collectively.

The proposals are being put out to public consultation until January, with final rules published next year.

Shares in motor and home insurers Admiral, RSA and Direct Line fell 2-5.6%.

BATTERED BUSINESSES

Insurers were due by Tuesday to tell smaller business customers the implications of last week's ruling that some of them were wrong to reject tens of thousands of claims from firms battered by the COVID-19 pandemic.

But some said they only received an email from their brokers, telling them their insurer was likely to send a "holding" letter saying it needed time to decide on next steps.

The FCA has told insurers to make interim payments wherever possible on policies where the legal process is complete or the claim has been accepted in full or in part.

The regulator and some insurers are still considering whether to appeal the judgment, which the FCA said found in favour of policyholders on the majority of key issues.

Lloyd's of London [SOLYD.UL] syndicate Arch said on its website that the judgment was likely to be appealed. RSA said its position on outstanding claims would not change while appeals were being considered.

($1 = 0.7812 pounds)

By Huw Jones and Carolyn Cohn


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ADMIRAL GROUP PLC 0.21% 2929 Delayed Quote.0.59%
AVIVA PLC 0.69% 350.9 Delayed Quote.7.16%
DIRECT LINE INSURANCE GROUP PLC -0.64% 327.4 Delayed Quote.3.29%
HASTINGS GROUP HOLDINGS PLC 0.00%End-of-day quote.39.29%
RSA INSURANCE GROUP PLC -0.09% 677.2 Delayed Quote.0.06%
SAGA PLC 1.85% 275 Delayed Quote.6.72%
All news about ADMIRAL GROUP PLC
01/14ADMIRAL : named a centre of Excellence in Wellbeing
PU
01/05INSIDER TRENDS : Insider at ASGN Awarded Stock Portion of Which is Sold for Taxe..
MT
01/04ADMIRAL : Holding(s) in Company
AQ
2020UK blue chips hit 9-month high on Brexit trade deal cheer
RE
2020ADMIRAL : To Sell Penguin Portals, Preminen Comparison Businesses To ZPG For $68..
MT
2020Zoopla owner to buy most price comparison businesses of Admiral in 508 mln po..
RE
2020ADMIRAL : Agrees $607 Million Sale of Penguin Portals, Preminen Comparison Busin..
MT
2020ADMIRAL : announces sale of Penguin Portals and Preminen comparison businesses t..
AQ
2020MARKET CHATTER : Admiral Group May Sell Confused.com to ZPG in $472 Million Deal
MT
2020Logistics Set for Moderna Covid-19 Vaccine's Rollout
DJ
More news
Financials
Sales 2020 679 M 921 M 921 M
Net income 2020 447 M 607 M 607 M
Net Debt 2020 234 M 318 M 318 M
P/E ratio 2020 19,6x
Yield 2020 4,99%
Capitalization 8 414 M 11 437 M 11 422 M
EV / Sales 2020 12,7x
EV / Sales 2021 11,2x
Nbr of Employees 11 246
Free-Float 65,3%
Chart ADMIRAL GROUP PLC
Duration : Period :
Admiral Group plc Technical Analysis Chart | ADM | GB00B02J6398 | MarketScreener
Technical analysis trends ADMIRAL GROUP PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 15
Average target price 2 407,99 GBX
Last Close Price 2 923,00 GBX
Spread / Highest target 2,63%
Spread / Average Target -17,6%
Spread / Lowest Target -41,7%
EPS Revisions
Managers and Directors
NameTitle
Milena Mondini de Focatiis Chief Executive Officer
Annette Elizabeth Court Non-Executive Chairman
Geraint Allan Jones Chief Financial Officer & Executive Director
Charlotte Bennett Head-Information Technology
Matt Wintle Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
ADMIRAL GROUP PLC0.59%11 437
PROGRESSIVE CORPORATION-4.13%55 486
PICC PROPERTY AND CASUALTY COMPANY LIMITED5.62%17 815
TRYG A/S3.44%9 756
PORTO SEGURO S.A.1.14%3 040
QUÁLITAS CONTROLADORA, S.A.B. DE C.V.2.97%2 271