- Newslink Global Insurance Trends-The Week
- Lloyd's first half aggregated market profit £0.6bn-combined ratio improves, investment income drops
- Standard & Poor's reports on Monte Rendez-Vous
- LMA launches new report-"InsurTech-led change in the Lloyd’s Market"
- Willis Towers Watson report says 71 InsurTech funding transactions in second quarter a record but $579m invested down 20%
- Over twenty insurance sector start-ups set to unveil their intention to form an alliance known as Insurtech UK.
- Accenture survey indicates financial services firms are closing the gap on cyber attacks, having stopped four in five of all breach attempts last year expired
- RMS and Cambridge Centre for Risk Studies(CCRS) announce the release of a new Data Definitions Document v1.0 for 14 different classes of insurance exposure which covers an estimated $554tr of total insured limits globally expired
- Willis Towers Watson announces Property Quantified, a first-of-its-kind technology platform to help organisations analyze potential property losses across a global portfolio with the aim of optimizing risk transfer and insurance strategies expired
- CII reduces gender pay gap expired
- ABI commissions new report-"Tackling the gender seniority gap: what works for the insurance and long-term savings industry" expired
- SSP becoms a signatory of both the Inclusive Behaviours in Insurance Pledge and the Tech Talent Charter expired
15th August 2018
Admiral produces strong interim result and growth all round
Admiral has published interim results-highlights are: 30 )
-Group statutory profit before tax £211m(+9%)
-Earnings per share 61.6 pence(+8%)
-Interim dividend 60.0p/per share(+7)
-Return on equity 54%(-2%)
-Group turnover £1.66bn(+14%
-Group net revenue £0.60bn(+9%)
-Group customers 6.23 million(+14%)
-UK Insurance customers 5.07 million(+17%)
-International Car Insurance customers 1.12 million(+17%)
-Group's share of Price Comparison profit £3.5m(+13%)
Statutory Price Comparison profit £2.6m(+8%)
-Solvency ratio(post dividend) 196%(214%)
Over 10,000 staff each receive free shares worth £1,800 under the employee share scheme based on the interim 2018 results.
David Stevens, Group ceo, comments ‘Zut alors! Nos opérations européennes sont rentables! Or probably more accurately, given that over half of our European customers are Italian- le nostre compagnie Europee sono in profitto! Moreover, the European insurers delivered overall profitability whilst growing the business by almost a fifth in a year.
But that’s not the only important milestone in the first half, which was characterised by substantial growth across almost all our businesses.
Most importantly, the core UK car insurance business continues to grow both in terms of profit and customer numbers. Early in 2018 we passed the four million mark for cars on cover–the car that hit the milestone was a Peugeot 108; our first 25 years ago was an Isuzu Piazza.
All of this is underpinned by our strong culture and hard-working, customer-focused staff, and we are proud to have been named the 3rd Best Company to Work For in the UK, as well as the 10th Best Workplace in Europe and 3rd in Italy."
The Directors have declared an interim dividend of 60.0 pence, representing a normal dividend of 40.8 pence per share and a special dividend of 19.2 pence per share.
Admiral Trends (132 articles)