Admiral Group PLC (ADML.L)

ADML.L on London Stock Exchange

16 Feb 2018
Change (% chg)

21.00 (+1.11%)
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Latest Key Developments (Source: Significant Developments)

Admiral H1 pretax profit rises, Brexit hits solvency ratio
Wednesday, 17 Aug 2016 

Admiral Group Plc : Admiral Group Plc results for the six months ended 30 june 2016 . Admiral has also declared a record interim dividend of 174.7 mln stg (62.9 pence per share), up from 140.2 mln stg(51.0 pence per share) for H1 2015 . Interim dividend includes 33 mln stg (11.9 pence per share) of additional return of capital as a result of strong solvency ratio . UK's decision to leave EU (Brexit) resulted in market volatility which impacted solvency ratio . Group profit before tax 193 mln stg versus 186 mln stg +4 pct . International car insurance losses totalled 12.9 mln stg (H1 2015: 11.2 mln stg). . Solvency ratio (post dividend) 180 pct versus 206 pct (FY 2015) . UK car insurance profit increased by 2 pct to 222.8 mln stg(H1 2015: 219.2 mln stg). . Significant downwards movements in risk free interest rates during 2016 led to an increase in regulatory valuation of uk car insurance business claims liabilities . This amounted to a downwards movement of approximately 20 pct in solvency ratio terms following eu referendum result . Market volatility that resulted from Brexit has adversely impacted group's solvency position at end of first half .This is due to an increased regulatory valuation of claims liabilities, in particular in relation to longer dated potential ppo claims, and hence reduced capital.  Full Article

LIVE MARKETS-Closing snapshot: STOXX 600 in striking distance of all time high

* European stocks extend rally * Swiss blue-chips, FTSE 100 hit records * UK motor insurers, dealers hit by weak sales data * U.S. non-farm payrolls miss Jan 5 Welcome to the home for real time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Kit Rees. Reach her on Messenger to share your thoughts on market moves: kit.rees.thomsonreuters.com@reuters.net CLOSING SNAPSHOT: STOXX 600 IN STRIKING DISTANCE O