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Financial intermediary, Admiral Group plc is celebrating passing the
one million active customer mark. The Group, which recently launched successfully
on the London Stock Exchange, has reached the milestone in less than 12
years of trading.
Its achievement is all the more impressive considering it reached the
half-a-million active customer mark in 2001 and has added more than 25%
of its customers since the start of this year.
The Admiral Group's core business is selling car insurance to private
motorists throughout the United Kingdom, with particular focus on those
car owners that traditionally pay higher than average premiums. It does
this through a number of well-known brands, including Diamond, elephant.co.uk
and Bell Direct, as well as Admiral.
The Group is currently the UK's 3rd largest direct car insurer with 5%
of the entire market. Its rapid growth over the last three years is largely
due to the increase in Internet customers, particularly through elephant.co.uk.
In 2003 the Group provided 3.4 million quotes over the Internet. This
year, 70% of its sales have originated online and by the end of 2004 it
expects to have had more than 800 million hits on its websites.
Chief executive, Henry Engelhardt, commented: "When Admiral launched
nearly twelve years ago, I don't think we expected to be this big quite
so quickly. It is a testament to our ambition, our high standards and
our excellent staff that we have reached this milestone so soon."
"2004 has proven to be a remarkable year for the Admiral Group. Our
IPO in September was one of the most successful this year, we were recently
named Business of the Year at the National Business awards and now reaching
the one million active customer mark really is the icing on the cake."
Issue date: 18-11-04
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