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reply to 16:27 GMT

I think the point is Admiral account for ALL revenue. That revenue is derived from UK motor insurance - they make huge profit and are one of the best stocks on the FTSE. That is a fact

So to claim all motor insurers 'make a loss' in the UK is not factually accurate. If you only account for underwriting but ancillary profit is channeled through subsidiaries or other arms of the business (possibly outside of the UK), then its not being entirely honest is it?

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