[mooism2]

Where have you got your "5% of them make a claim with average cost £5000" figures from?

Are employee costs included in the £10 million for misc fees?

I would think you'd also have to make an allowance for fraud (both in terms of write-offs and fighting it).

The biggie: How many drivers aged 17-22 are there in the UK, and how much will you have to spend on advertising to get 500,000 of them to sign up?

£125 million + £10 million is not £130 million.