Admiral sells German car insurance operation

Fri, 07 Jan 2011

The leading car insurance provider Admiral has sold AdmiralDirekt, the group's car insurance operation in Germany, to Itzehoer Versicherung for £4.4 million.

The firm has, however, insisted that it remains focused on continuing the profitable growth of its UK operations as well as building businesses in Spain, Italy, the US and France.

As a result of the acquisition, insurance contracts generated by AdmiralDirekt and underwritten by the group in 2011 will be fully reinsured by Itzehoer.

Contracts will be transferred to the new owner once court and regulatory approval have been secured, the insurer confirmed.

Meanwhile, Moneysupermarket.com recently urged car insurance customers to consider paying their costs in monthly instalments.

"Running a car doesn't come cheap, and many of us will be looking for ways to trim our outgoings and make our finances more manageable," Steve Sweeney, head of car insurance at the price comparison site, explained.

Paying for your car cover on a monthly basis is a good way of keeping initial outlay for car insurance down, he added.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page




Simplyhealth Dental Plan

Affordable cover from only £7.50 per month. Join now and get first month FREE

Health cover, life insurance and PMIProtect Your Health

Find Critical illness, Life and Private Medical Insurance PMI policies.

Save money on your mortgageSave on Your Mortgage

Would you like to save money on your mortgage? Fill out our quick mortgage enquiry form.