February 7, 2020 / 7:29 AM / 12 days ago

Insurer Admiral says lower claims to boost 2019 profit

Feb 7 (Reuters) - British insurer Admiral said on Friday it expects 2019 pretax profit to rise 6%-13% from the prior year due to lower UK motor bodily injury claims.

However, it says profitability in the current year is still affected by higher levels of claims inflation during 2019, which could lead to a higher loss ratio in 2019 than in recent years.

The company said it expects to post a profit before tax for 2019 in the range of 510 million pounds ($659.99 million) to 540 million pounds.

$1 = 0.7727 pounds Reporting by Yadarisa Shabong in Bengaluru and Carolyn Cohn in London; Editing by Subhranshu Sahu

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