Admiral reports rise in profits

Henry Engelhardt

Admiral has reported a 2% rise in pre-tax profits to £184.9m (H1 2013: £181.6m) for the first six months of 2014.

The provider's group combined operating ratio (COR) came in at 85.4%, an improvement on the 87.4% for the same period of the previous year.

However turnover slipped 5% to £1.04bn from £1.09bn in the first half of 2013.

UK profit
The breakdown of the figures revealed that UK car insurance profit increased 8% to £207.7m (H1 2013: £192.7m) with turnover also down at £849.8m (H1 2013:

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