by CIO UK Staff

Admiral plan European wide expansion of price comparison model

Mar 01, 2010
Financial Services IndustryIT Strategy

Insurance company Admiral, which owns the price comparison service, announced with its full year results for 2009 that it plans to expand the price comparison model in major European markets: France, Italy and Spain. Admiral leads the price comparison market in the UK and now plans to take on Europe. It already launched in Spain based on the business model.

Henry Engelhardt, group chief executive said, “Early in 2010 we launched our third and fourth price comparison sites; in France, and in Italy.” Admiral already has its own insurance businesses in these markets.

Admiral reportedthat profits before tax increased by seven per cent to £216 million, its UK car insurance arm; the most profitable part of the business reported a 15 per cent increase in profits and reported a profit of £26 million. David Williams, IT Director at has led the organisation through the redevelopment of its shop front, the website and built a new back end in Microsoft .Net.