Admiral Group plc (ADM) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.218 Welcome everybody to Admiral Group Alfear 2025 results. 00:00:05.218 -- 00:00:10.585 Once again, we deliver excellent financial performance, growth, and strategic progress 00:00:10.585 -- 00:00:15.712 across the group. As usual, I will be sharing our main highlights. 00:00:15.712 -- 00:00:19.396 Geraint will provide us more detail on our financial performance. 00:00:19.396 -- 00:00:23.001 Alistair will talk to us about the excellent results in UK insurance. 00:00:23.001 -- 00:00:28.085 And Constantino will bring to life for us our progress overseas. 00:00:28.280 -- 00:00:32.364 So in the first six months of the year, 00:00:32.447 -- 00:00:35.252 we deliver a record profit of £521 00:00:35.252 -- 00:00:40.361 million, that is almost 70% increase year on year, while at the same time 00:00:40.361 -- 00:00:45.589 adding 1 million customers to our book, that is a 10% increase versus 00:00:45.589 -- 00:00:51.273 last year. The main driver of this profit increase was UK motor insurance 00:00:51.273 -- 00:00:55.502 that was also supported by positive claims trends. 00:00:55.502 -- 00:00:59.449 But it was nice to see material growing contribution coming from different parts of the 00:00:59.449 -- 00:01:05.201 business and in particular UK household and Admiral Money who both doubled their profits 00:01:05.201 -- 00:01:09.370 while at the same time growing and building on their strong track record. 00:01:09.370 -- 00:01:13.294 As we anticipated in March, we announced the sale of our U.S. 00:01:13.294 -- 00:01:16.657 business, Elephant, due to complete later this year. 00:01:16.657 -- 00:01:21.361 It will be sad to say goodbye to our colleagues, but we do think that's in the best interest 00:01:21.361 -- 00:01:23.664 of all our stakeholders. ...