Admiral CEO warns of ‘uncertain’ 2025 after Ogden boosted UK profit
Admiral saw its UK profit rise by 64% to £977m in its 2024 results, with the insurance group attributing 17% to the change in the Ogden personal injury discount which improved to 0.5% last year.
The insurer added that its UK motor profit increased to £955m (2023: £593m) driven by higher revenues, turnover was up 33% to £4.5bn, and a better combined operating ratio – 74.7% v 88.2% in 2023 – alongside a £100m benefit from the Ogden changes.
Overall Admiral’s UK turnover was £5.1bn, and it added 19% more customers in 2024, with 5.7m motor policyholders and 3.1m in other lines.
It said the integration of the More Than household and pet renewals rights acquired at the end of 2023 was
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