Admiral: EU Insurance Rule May Delay Young Women From Driving

The European Court of Justice's decision to ensure that insurance products aren't priced differently depending on the gender of the policyholder could lead young women to delay starting to drive, Admiral Group PLC (ADM.LN) Chief Executive Henry Engelhardt said Wednesday.

"You might find young women not driving as early. They may wait a year or two more to get their cars because of the cost of the insurance. That's very possible," Engelhardt told reporters.

"I doubt that a lot of women who are already driving would give up their cars. There may be some, but I don't see many," he said.

His comments come after the ECJ Tuesday laid out its decision, prompting insurers to warn that women--younger women in particular--would have to pay more expensive car insurance premiums to match the premiums already being paid by men.

The ECJ made the decision in an effort to do away with gender discrimination.

In the briefing, Engelhardt also said he expects car insurance rates in the U.K. to rise this year and that Admiral's customer numbers will continue to grow "a fair amount."

-By Vladimir Guevarra, Dow Jones Newswires; +44 (0) 2078429486; vladimir.guevarra@dowjones.com

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