Insurance company Admiral, which owns the Confused.com price comparison service, announced with its full year results for 2009 that it plans to expand the price comparison model in major European markets: France, Italy and Spain.
Admiral leads the price comparison market in the UK and now plans to take on Europe. It already launched Rastreator.com in Spain based on the Confused.com business model.
Henry Engelhardt, group chief executive said, "Early in 2010 we launched our third and fourth price comparison sites; LeLynx.fr in France, and Chiarezza.it in Italy." Admiral already has its own insurance businesses in these markets.
Admiral reported that profits before tax increased by seven per cent to £216 million, its UK car insurance arm; the most profitable part of the business reported a 15 per cent increase in profits and Confused.com reported a profit of £26 million.
David Williams, IT Director at Confused.com has led the organisation through the redevelopment of its shop front, the website and built a new back end in Microsoft .Net.