RNS Number:7232C
Highway Insurance Holdings PLC
10 May 2006

                                  AGM STATEMENT


Pressure continues to be exerted on motor insurance pricing in both the direct
and intermediated markets.  We continue to maintain underwriting discipline but
as a consequence have to expect some modest tension on our overall write.  Costs
particularly on personal injury claims and reinsurance continue to inflate.
Inevitably these conditions will impact our combined ratio for the year close to
100%.



Despite bumpy conditions in the bond markets, our investment fund has achieved a
return of 300 basis points in the opening four months.  Our target of 650 basis
points for the full year therefore remains a realistic possibility.



In my statement to shareholders in the Annual Report I suggested that our aim in
2006 was to hold our position and I see no reason to change that view.  At the
same time we continue in our attempts to improve the quality of our business, so
generating value for shareholders.







Ross Dunlop
Executive Chairman
10 May 2006


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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