Admiral operating profit hits £379m

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Group operating profits for Admiral hit £379m shown in preliminary 2015 results, last year operating profits were £355m.

Revenues were roughly static reaching £1.13bn (2014: £1.1bn).

In UK car turnover grew from £1.6bn to £1.7bn while GWP increased to £1.5bn (2014: £1.5bn). Overall profit before tax reached £443m, up from £398m the previous year. The motor COR improved to 81% from 83% in 2014.

Admiral remarked that this was down to "higher reserve releases that resulted from positive claims

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