Admiral seeks to build "metaphorical skyscraper" as profits rise

Henry Engelhardt

Group turnover for the provider increased marginally to £2.22bn (2011: £2.19bn) as the vehicle count rose 6% to 3.55m from 3.36m the year before.

The combined operating ratio (COR) for the whole group came in at 96.6%, slightly worse than the 95.7% in 2011.

For its UK motor business Admiral achieved a COR of 89.7%, an improvement on the 91.3% in the prior 12 months.

Total premium written in 2012 was broadly flat compared to 2011 at just over £1.7bn, while the number of customers rose 2% year-on

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