Admiral’s half-year turnover (an in-house revenue measure) was flat at £3.1bn. Growth in Household Insurance was offset by reduced UK Motor turnover as insurance prices fell.
Profit before tax rose 69% to £521mn, driven by strong performance in UK Insurance as margins for motor plans improved significantly.
The Group has agreed to sell US motor insurance business, Elephant to J.C. Flowers & Co. The transaction is subjected to regulatory approval and is expected to close toward the end of 2025.
The total interim dividend was up 62% to 115.0p, made up of a normal dividend of 85.9p and a 29.1p special dividend.
Including the proposed dividends, there solvency ratio (which measures balance sheet strength) fell from 198% to 194%.
The shares were up 3.9% in early trading.
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Admiral key facts
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