Admiral withdraws special dividend after Bank of England urges restraint
The insurer will not pay its promised special dividend but will still pay its final dividend
Company
Admiral Group Plc
LON:ADM
Admiral Group began in January 1993 with just one brand, zero customers and 57 members of staff. By June 2008, the Group had nine brands, over 1.5 million vehicles insured and 2500 members of staff. Group turnover, comprising total premiums written, gross other income and allocated investment income, rose 14% to £472.5 million (H1 2007: £417.8 million).
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Admiral to refund £25 as coronavirus lockdown cuts road accident claims
Admiral will commit a further £80mln to lower prices and support the community and NHS staff
Insurers face growing risks if coronavirus crisis persists, but Goldman keeps most on 'buy'
Insurer's search for yield means the sector is “particularly sensitive to spread movements and exposed to rating migration and/or credit default”
Admiral Group chief executive David Stevens to leave on a high note
"2019 marks another year of very strong results for Admiral, and also the announcement of a change of leadership."
Admiral profits puffed up by change in personal injury discount rate
Profit before tax for 2019 will be in the range of £510-540mln, the FTSE 100 insurer said, up between 6% and 13% on the previous year
Admiral, Oakley Capital mutually agree to terminate proposed Spanish joint venture agreement
In May, private equity firm Oakley Capital had agreed to form a joint venture with Admiral and MAPFRE SA
Admiral gets upgrade from UBS as UK motor going better than expected
“Whilst we still expect margin erosion from here, on our updated estimates this is now coming from a better starting point”
Admiral on the front foot as profits rise despite Odgen rate hit
“Profit growth, even if modest, is more exciting considering the £33 million Ogden headwind,” said David Stevens, chief executive.
UK government raises Ogden discount rate by less than expected
The Ogden discount rate will rise to -0.25% from -0.75% following a government review
ShoreCap undercover digging finds insurers not quite walking the talk, upgrades Hastings
Broker upgraded Hastings Group to 'buy' as it would be most affected by a pricing upturn in the motor insurance market
Barclays hands insurer Admiral a double upgrade as premium cycle turns
Barclays has double upgraded its rating to ‘overweight’ with a price target of 2,300p
Investments and investor services
FTSE 100 closes in the red as markets sink on growing trade war fears
In Europe, the German DAX tanked 206 points, while the French CAC 40 is down around 104
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BT Group will be in City spotlight on busiest day of the short week
Thursday's preview includes BT Group, Superdry, Morrisons, Barratt Developments, and RSA Insurance.
Admiral and Direct Line shares hit by UBS downgrade
UBS cut its rating on Admiral to 'sell' and its recommendation on Direct Line to 'neutral'
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BT to take centre stage as it reports full year numbers with dividend in focus
The week ahead includes updates from BT Group, Superdry, Morrisons, ITV, IAG, Barratt Developments, Direct Line, RSA Insurance and Imperial Brands
Admiral posts better than expected 2018 profit inflated by Ogden rate-related reserve releases
The FTSE 100-listed insurer posted an 18% jump in full-year 2018 pre-tax profit to £476.2mln, up from £403.52mln a year earlier and ahead of the £445.8mln consensus forecast
FTSE 100 closes lower after European Central Bank strikes downbeat note
"Brutal cuts from the ECB as GDP growth for 2019 is cut from 1.7% to 1.1%. With this in mind, it seems like any possible interest rate raises are all but completely ruled out until likely 2021," declared Jordan Hiscott, the chief trader at
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Insurers Aviva and Admiral in Thursday’s results spotlight
Results from Aviva, Admiral, Greggs and Premier Oil are all in the diary for Thursday.
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Insurance will be the corporate key in coming week, though US jobs data should be biggest draw
The Week Ahead brings updates from the likes of Aviva, Direct Line, L&G and Admiral, while investors can also bet on Paddy Power Betfair and GVC Holdings
Barclays goes value-hunting in motor insurance market; upgrades Hastings Group
UK motor insurers have been punished over the past year, largely due to the toxic combination of falling premiums and rising compensation pay-outs