For the six months ended 30th June 2023 Admiral Group reported profit before tax of £233.9m, up 4% on the £224.6m reported in the same period last year. Insurance revenue increased by 14% to £1.61bn and group customers increased by 4% to 9.4 million people. In the UK, insurance customer numbers increased by 1% to 7 million people.

Milena Mondini de Focatiis, group chief executive officer of Admiral Group, said: "Our UK motor business delivered a profit of £298m in the first half of 2023. As we increased prices well ahead of the market last year, our active vehicle base reduced over the period, but we are on a strong footing to leverage improving market conditions.

“We continue to enhance our capabilities, particularly in data and technology, and we are innovating to further develop our core competences and enrich our customer proposition.

“We are making good progress on our diversification strategy, with our non-UK motor products delivering 19% customer growth, and our UK household business and European motor business delivering profits of £8.7m and £4.7m, respectively.”

Share Story: