Admiral warns of higher car insurance

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Admiral warns of higher car insurance

Thu 31st Jul 2008

Car insurance premiums may rise by five per cent by the end of the year, Admiral has warned.

Admiral, which owns Elephant.co.uk and Diamond, said premiums may rise faster than claims.

Insurers have increased their premiums by about 2.5 per cent in the first half of the year, according to the provider.

Admiral predicted a similar rise over the rest of the year and said it expected to increase its own rates slightly.

Its premiums were three per cent higher in the first six months of 2008 than a year ago. This is around half of the five to six per cent increases that are seen more broadly.

In related news, Greenbee.com is to enter the UK car insurance market, according to Insurance Daily.

The website, part of the John Lewis Partnership, will expand its current services such as home, travel and life insurance in conjunction with car insurer Fortis.

James Furse, managing director of Greenbee.com, said the company wants to bring high quality service at competitive rates.

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