| Claims drive up motor insurance |
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Henry Engelhardt, head of Admiral Insurance, said the company had increased motor premiums by 12% over the last year to "compensate for claims inflation". He predicted that the trend would continue this year.
The motor insurer, which also operates the Elephant and Confused brands, saw profits before tax jump 7% to £215.8m, with £206.9m of this coming its UK car insurance business. Engelhardt said: "Prices have been going up across the market becasue of personal injury claims and comparison sites encouraging people to look for cheaper insurance.
"We think this trend will continue throughout 2010." |
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