UPDATE: Admiral shares plunge on profit warning

Shares in insurance firm Admiral tanked by 25% this morning after it warned 2011 profits would be at the lower end of expectations due to a jump in personal injury claims.

Shares in insurance firm Admiral tanked by 25% this morning after it warned 2011 profits would be at the lower end of expectations due to a jump in personal injury claims.

In its third quarter statement the firm said it expected to report record profits for the full year, around 10% higher than the previous year.

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