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18/11/2004
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."
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