Confused loses out to web rivals

Insurance group Admiral yesterday said its price comparison website had lost out to rivals as its television advertising campaign proved a flop.

The firm behind Diamond and insurance brands blamed unsuccessful TV ads for a 35 per cent plunge in earnings at during the six months to June 30.

Cardiff-based Admiral admitted was no longer market leader, slipping to second place this year after a difficult six months.

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Competitors have fared better with their campaigns, with moneysupermarket recently thanking its 'haggle hero' series featuring comedian Omid Djalili for a 5 per cent lift in revenues.

But Admiral said it had responded quickly, pulling back on current ads ahead of a new campaign that will roll out in the next six months, as well as cutting costs at the operation.

A good performance across the wider Admiral group offset the troubles, with interim pre-tax profits up 21 per cent to 126.9m. The leap came after it hiked premium rates by 22 per cent year-on-year.