Cheap car insurance news
07/06/2007

Online car insurance quote site may change hands

Admiral has revealed that it may sell its online car insurance comparison site, Confused.com, after approaches by several companies.

The web-based motor insurance company has been a successful business for Admiral since its launch in 2003 and enjoys a large share of the car insurance quote comparison market.

It is now estimated to be worth between £600m and £700m and a number of businesses have apparently approached Admiral with a view to purchasing the online car insurance site.

A spokesperson for Admiral said: "Admiral notes the recent press speculation regarding Confused.com and confirms that it has received approaches from several parties regarding the business.

"The board is reviewing its options in relation to Confused which include retention of the business or a partial or full disposal. There can be no certainty that any transaction will take place."

Confused.com is just one of several motor insurance brands owned by Admiral. Others include the women's car insurance specialist Diamond and online car insurance provider Elephant.co.uk.

One business analyst commented: "A sale at this stage may be a smart move for Admiral given that the online quote comparison industry is likely to become more competitively going forward.

"In addition, distancing itself from Confused would enable management to focus all efforts on the core underwriting business during the next upturn in the cycle."

 

 

More Car Insurance News

Ross-shire drivers caught without motor insurance
Drivers spend 2 weeks a year in traffic jams
2 in 5 drivers suffering 'crashback'
VW camper van thief escapes prison
Motor insurance firm recommends fully comp policies
Post Office to improve online car insurance visibility
"Green" policies from online car insurance site
Cheap car insurance ads making progress
Car insurance risk of company car drivers
Awards sponsored by cheap car insurance firm
Swinton's cheap car insurance unaffected by speeding
Many UK motorists mistaken over tyre issues
Motor insurance quotes above average in Worcester
More insurance brokers to use Imarket
uSwitch comments on ABI's fraud figures
Cheap car insurance firm reveals its fun policy
HSBC to offer cheap car insurance
Scottish campaign aims to cut rural road crashes
Thieves cause cheap car insurance worry
£60k Mercedes towed away
Tesco launches motor insurance/home insurance deal
Online car insurance site to cover homes too
Info guides launched by online car insurance site
Wiltshire Police in car insurance crackdown
Cheap car insurance boss criticises outsourcing
Unrestrained loads pose cheap car insurance risk
Preventing tax disc theft
No ban for man caught uninsured on a £60k car
Post Office offers extra cheap car insurance quotes
Post Office reaches 500,000 insurance milestone

 

Motor Insurance News Archive

May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
Car insurance news 2005

For more information, please see:

• Why choose duck2water?
• How to buy online
• Breakdown cover
• Glossary
• Customer testimonials

Get a cheap car insurance quote now!