Admiral profits back 18% as CEO describes market as “more challenging”
The UK’s largest personal lines insurer Admiral has reported an 18% decline in group profit before tax to £429.2m (H1 25: £521m) in its half year results today.
For the six months to the 30 June the group reported flat turnover at £3.11bn (H1 25: £3.1bn), with insurance revenue down 1% to £2.44bn (H1 25: £2.47bn) and its combined ratio up 0.8 points to 78.5% (H1 25: 77.7%).
The business noted the number of UK insurance risks on its book had risen 5% to 9.73m (H1 25 9.3m), with motor at 5.77m (H1 25: 5.75m), household at 2.21m (H1 25: 2.14m) and travel/pet at 1.75m (H1 25: 1.41m).
UK profit back 17%The UK business contributed £485m to the overall profit
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