Admiral Group plc (ADM) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome everybody to Admiral Group Alfear 2025 results. Once again, we deliver excellent financial performance, growth, and strategic progress across the group. As usual, I will be sharing our main highlights. Geraint will provide us more detail on our financial performance. Alistair will talk to us about the excellent results in UK insurance. And Constantino will bring to life for us our progress overseas. So in the first six months of the year, we deliver a record profit of £521 million, that is almost 70% increase year on year, while at the same time adding 1 million customers to our book, that is a 10% increase versus last year. The main driver of this profit increase was UK motor insurance that was also supported by positive claims trends. But it was nice to see material growing contribution coming from different parts of the business and in particular UK household and Admiral Money who both doubled their profits while at the same time growing and building on their strong track record. As we anticipated in March, we announced the sale of our U.S. business, Elephant, due to complete later this year. It will be sad to say goodbye to our colleagues, but we do think that's in the best interest of all our stakeholders. We also made great progress in enhancing our data and technology capability, as well as improved our customer experience, reflecting a strong net promoter score above 50%. As very typical and usual of Admiral, we maintain pricing discipline in a softening market. And this will put us on a strong footing for further growth when the cycle will turn and the time will be right. We have a strong capital position and strong fundamentals to continue to build on this strong track record. A bit more in detail now. The first six months of 2025 were very much a c...