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Pin to quick picksAdmiral Share News (ADM)

Share Price Information for Admiral (ADM)

London Stock Exchange
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Share Price: 2,750.00
Bid: 2,762.00
Ask: 2,763.00
Change: 2.00 (0.07%)
Spread: 1.00 (0.036%)
Open: 2,745.00
High: 2,776.00
Low: 2,736.00
Prev. Close: 2,748.00
ADM Live PriceLast checked at -

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JPMorgan turns more positive on Direct Line and Admiral

Thu, 25th Jan 2024 10:21

(Sharecast News) - Shares in UK motor insurers Direct Line Group and Admiral were rising on Thursday after positive comments from JPMorgan, which said that a sector recovery is imminent and that investor concerns about regulatory intervention are overdone.

The bank resumed coverage of DLG with an 'overweight' rating, having previously been rated 'neutral', and upgraded its stance on Admiral from 'underweight' to 'neutral'.

JPMorgan said that 2022/23 results across the sector were the worst since the financial crisis, as market pricing hadn't caught up with claims inflation which increased more than of recent norms due to underlying economic inflation and supply chain issues.

"At this stage, with pricing holding firm, we expect that on a written basis, pricing has increased sufficiently to meet future claims costs with results from 2H24 onwards likely to show material improvements before we see a 'clean' year of earnings in 2025," JPMorgan said.

Meanwhile, the bank talks down the threat of regulatory intervention from the FCA which has weighed heavily on the sector following the introduction of the Consumer Duty in July 2023. "Despite the market concerns on this source of profits , we actually are less worried given the material levels of price increase that we have seen in UK motor pricing and recent momentum in UK home insurance lines," it said.

DLG shares were up 1.5% at 171.9p in afternoon trade, while Admiral gained 0.3% to 2,509p.

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10 Jan 2024 15:23

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UK insurers tumble on report of regulator comments on premium finance

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10 Jan 2024 13:49

Storm Henk causes around 150 mln pounds in UK insured losses -PwC

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10 Jan 2024 11:48

Insurers Admiral, Direct Line tumble on premium financing woes

(Sharecast News) - Insurers Admiral and Direct Line tumbled on Wednesday amid concerns of a potential clampdown on premium financing.

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10 Jan 2024 11:40

UK insurers tumble on report of regulator comments on premium finance

LONDON, Jan 10 (Reuters) - Shares in UK insurers fell on Thursday, with traders pointing to an article in the Insurance Post that quoted the Financial Conduct Authority’s Head of Insurance Matt Brewis as saying premium finance was a “poor product”.

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21 Dec 2023 16:03

London close: Stocks finish weaker amid uninspiring data

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21 Dec 2023 11:54

LONDON MARKET MIDDAY: Stocks frosty ahead of US economic data

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21 Dec 2023 09:28

LONDON BROKER RATINGS: Berenberg cuts Admiral Group to 'hold' from buy

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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21 Dec 2023 09:01

Berenberg lowers Admiral to 'hold'

(Sharecast News) - Analyst at Berenberg downgraded insurance group Admiral from 'buy' to 'hold' on Thursday but raised its target price on the stock from 2,543.0p to 2,961.0p, stating it was now "pausing for breath".

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(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

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7 Dec 2023 14:11

Admiral agrees deal to buy RSA's More Than insurance business

(Alliance News) - Admiral Group PLC has agreed to buy the More Than personal home and pet cover business from RSA Insurance in a deal worth up to GBP115 million.

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29 Nov 2023 09:51

LONDON BROKER RATINGS: JPMorgan cuts Diageo to neutral from overweight

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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