Admiral flags “higher than expected” profit
The business suggested low claims frequency and unusually positive developments in the cost of bodily injury claims will boost its half year figures.
Admiral Group has predicted higher than expected Group profit before tax for the first half of 2021 in the range of £450m to £500m in a trading update issued today (12 July).
The provider said that the stronger result is due to unusually positive development in the cost of UK motor bodily injury claims from a number of prior underwriting years which has led to higher reserve releases and profit commission revenue. It has not changed its approach to claims reserving.
Claims frequency
Furthermor
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