Business
Continued significant improvements in back year...
Continued significant improvements in back year....
About this update from Admiral Group Plc
[{"type":"text","content":"\n \n \n Continued significant improvements in back year claims drive positive Admiral Group results for H1 2020\n \n \n \n \n 12 August 2020\n \n \n Continued significant improvements in back year claims drive positive Admiral Group results for H1 2020\n \n \n Admiral Group plc results for the six months ended 30 June 2020 \n \n \n 2020 Interim Results Highlights\n \n \n \n \n \n \n \n 30 June 2020\n \n \n 30 June 2019\n \n \n % change\n \n \n \n \n \n \n \n \n \n Group’s share of profit before tax*1\n £286.7 million\n £220.2 million\n +30%\n \n \n Group statutory profit before tax\n £286.1 million\n £218.2 million\n +31%\n \n \n Earnings per share\n 82.9 pence\n 63.0 pence\n +32%\n \n \n \n \n \n \n \n \n Interim dividend\n 70.5 pence\n 63.0 pence\n +12%\n \n \n Payment of deferred special dividend\n 20.7 pence\n -\n -\n \n \n Return on equity*1\n 50%\n 47%\n +7%\n \n \n \n \n \n \n \n \n Group turnover*1*2\n £1.69 billion\n £1.76 billion\n -4%\n \n \n Group net revenue\n £0.69 billion\n £0.65 billion\n +6%\n \n \n Group customers*1\n 7.17 million\n 6.74 million\n +6%\n \n \n UK Insurance customers*1\n 5.58 million\n 5.32 million\n +5%\n \n \n International Insurance customers*1\n 1.49 million\n 1.36 million\n +10%\n \n \n \n \n \n \n \n \n Group’s share of Comparison profit*1\n £13.1 million\n £7.4 million\n +78%\n \n \n Statutory Comparison profit\n £12.5 million\n £5.4 million\n +131%\n \n \n \n \n \n \n \n \n Solvency ratio (post dividend)\n 186%\n 190%\n \n \n \n \n *1\n Alternative Performance Measures - refer to the end of the report for definition and explanation\n \n \n *2\n Group Turnover in H1 2020 presented net of the ‘Stay at Home’ premium refund issued to UK motor insurance customers of £97 million. Refer to the Alternative Performance Measures section at the end of this report for further explanation.\n \n Over 10,000 staff each receive free shares worth up to £1,800 under the employee share scheme based on the interim 2020 results.\n \n Comment from David Stevens, Group Chief Executive Officer\n \n “A year ago I described our results as ‘frankly a bit dull’. With the benefit of hindsight there’s a lot to be said for ‘dull’ if the alternative is a global pandemic.\n “Our response to...