12
Based on preliminary figures,
The stronger result is due to unusually positive development in the cost of
Further, motor claims frequency in 2021 to date has been lower than expected due to extended lockdown restrictions resulting in a favourable current period loss ratio, despite the significant reductions in Admiral’s premium rates over the past twelve months, which followed the £110 million of premium refunded to customers in
On the basis of these preliminary results and a very strong solvency position, the proposed 2021 interim dividend is expected to be in the range of 110 to
It is not currently expected that the level of reserve releases and profit commission for the first half of 2021 will be repeated in the second half.
The sale of the Penguin Portals comparison businesses was completed on
Figures shown in this release are preliminary and subject to completion of internal governance processes and external audit review. Admiral will publish its 2021 half year results on Wednesday
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014.
For more information, please contact:
Marisja Kocznur marisja.kocznur@admiralgroup.co.uk
Investors & Analysts
FTI Consulting
Edward Berry +44 (0) 20 3727 1046
Tom Blackwell +44 (0) 20 3727 1051
[1] Excluding profit on disposal from the Penguin Portal sale which completed on
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