06-03-2025
UK's Admiral Group reports nearly-doubled profit on motor arm strength
March 6 (Reuters) - British motor and home insurer Admiral Group (ADML.L), opens new tab on Thursday reported a near-doubling in annual pre-tax profit, helped by its motor arm and competitive pricing.
Admiral's competitive pricing has enabled it to attract a good customer base and mitigate the effect of falling motor premiums.
"The main driver of our exceptional performance was our UK Motor business," said Group CEO Milena Mondini de Focatiis, adding that its French and U.S. motor businesses reported a double-digit profit.
The company reported group pre-tax profit of 839.2 million pounds ($1.08 billion) for the year ended December 2024, up 90% from a year earlier.
($1 = 0.7745 pounds)
