Business News

Admiral has today announced that it will underwrite van insurance directly in the UK, rather than through its broker business, Able Insurance, and its panel of insurers.  More commonly known as Gladiator, Able has traded as a commercial vehicle intermediary for almost 19 years and currently has over 170,000 van customers. There will be no impact on current policies, and over the next 12 months, these customers will be invited, at renewal, to transfer onto the new Admiral Van product. The change will allow Admiral to directly offer motor, home and van policies in the UK.

Today (8th March) Admiral Group announced its Full Year Results for 2016 which show how the Group performed across the year.

8 March 2017

Admiral Group plc announces another year of strong growth and profit before tax of £284 million for the year to 31 December 2016

2016 Preliminary Results Highlights

Admiral Group plc will be announcing its 2016 Preliminary Results on Wednesday 8 March 2017 at 7.00am.

On the same day, Admiral will host an analyst presentation on the results at 8.00am at Bank of America Merrill Lynch, 2 King Edward Street, EC1A 1HQ.

The presentation will be accessible via a conference call for those unable to attend in person.

Admiral Group has been named the 2nd Best Big Company to Work For in the Sunday Times Best Companies to Work For list.

The list of Best Companies to Work For in the UK was announced at an awards ceremony held in London last night (23rd February) and Admiral came 2nd in the category of the 30 Best Big Companies to Work For 2017.

Admiral is the only UK company who has made the Sunday Times List every year since it began in 2001.

Admiral Group plc announces that Alastair Lyons, who has held the role of Non-executive Chairman since June 2000, has notified it that he does not intend to seek re-election as a director of the Admiral Group at the forthcoming Annual General Meeting on 26 April 2017.

In the build up to National Dyslexia Awareness week (3rd – 9th October), local employer Admiral is raising awareness of dyslexia amongst its staff with a new and innovative training course, created by one of its employees.

H1 2016 Group Results                     

Admiral Group has won The Wellbeing at Work Award at the Responsible Business Awards.

Hosted by Business In The Community Cymru, the awards identify and celebrate businesses from across Wales that are making a positive impact in their communities, schools, supply chains and workplaces.

Admiral was named the winner of the Wellbeing At Work Award for its Ministry of Health (MOH) programme.

As a proud Welsh company, Admiral will be closing its Cardiff, Swansea and Newport offices early on Wednesday (6th July) to allow staff to enjoy the Wales v Portugal Euro 2016 semi final.

Staff in Admiral’s contact centres work shifts, with some due to finish at 10pm. However, due to the enormity of Wednesday’s game and how Wales’ journey has gripped the company, it was a straightforward decision to close at 7pm.

This will mean that over 600 staff get to leave the office early so they can get ready for kick off.

Following receipt of regulatory approval, the Board of Admiral is pleased to announce the appointment of Justine Roberts as an independent non-executive director with effect from 17 June 2016.

Justine Roberts is the CEO and co-founder of internet company, Mumsnet.com, which has grown into the UK's biggest online network for parents. Justine has been responsible for the creation, strategic direction and overall management of Mumsnet, building it into one of the most recognisable internet brands in the UK.

Ty Admiral has been named the best corporate workplace by the British Council for Offices.

2015 Preliminary Results Highlights                       

Admiral Group plc ('Admiral' or 'the Group') confirms that the level of Capital Add-On to be applied to the Solvency II Standard Formula has been agreed with the Prudential Regulation Authority ('PRA').  The Add-On is consistent with the level calculated by Admiral and takes effect from 1 January 2016.

After accounting for an appropriate margin above the Group's capital requirement, Admiral expects to hold a level of surplus capital as it enters Solvency II. 

2015 Interim Results Highlights

South Wales based insurance specialist Admiral is recruiting for over 130 jobs in its Newport office, as well as a further 50 jobs in Cardiff and 100 in Swansea.

Admiral Group plc’s CEO Henry Engelhardt announced today that he has decided to step down from the CEO role in one year’s time.  He will be replaced as CEO by co-founder and current COO, David Stevens.

Henry has led Admiral since its creation in June 1991.  He has been the only CEO the company has had.  David joined Admiral in August 1991 prior to Admiral’s January 1993 launch.  He is currently Group COO and has been CEO of the UK insurance business since 2008.

With effect from 7 November 2014, the Financial Conduct Authority removed the requirement in the Disclosure and Transparency Rules to publish Interim Management Statements (IMSs).

After careful consideration, the Board of Admiral Group Plc does not intend to issue IMSs in the future and will not, therefore, issue one in April 2015.

The Welsh Rugby Union has signed the biggest shirt partnership deal in its history, with Welsh-based FTSE 100 company Admiral.

Admiral’s logo is already emblazoned across the chests of Wales’ senior national stars, and has been since November 2010, but a new partnership has now been agreed until 2017.

The partnership has also seen Admiral extend their support to the senior Wales women’s side which will now also carry the Admiral logo on their playing strip until 2017.

Admiral Group plc announces a strong annual result with Group profit before tax of £357 million for the year to December 2014..

Admiral Group has been named the fifth Best Big Company to Work For in the Sunday Times Best Companies to Work For in the UK list.

The company was also given a special recognition award for being in the list every year since it began fifteen years ago, the only company to achieve this, and CEO Henry Engelhardt was named Best Leader for the second year running.

Wales’ only FTSE 100 company, Admiral Group, has been named as one of the finalists in the 2014/5 European Business Awards. Selected as one of 10 Ruban d’Honneur recipients in the ‘Employer of the Year’ category, Admiral Group will now go on to compete in the final round of judging, resulting in 11 overall category winners to be announced later this year.

Local employer Admiral has celebrated the official opening of its headquarters in Cardiff by Welsh rugby captain Sam Warburton and 5 other members of the team.

Sam, along with George North, Mike Phillips, Hallam Amos, Paul James and Luke Charteris joined Admiral’s CEO Henry Engelhardt to mark the official opening of the company’s headquarters, Tŷ Admiral. Representatives from many of the organisations involved in the building, including the developers Stofords, attended the event.

Admiral Group, the South Wales based insurance specialist, is recruiting for over 250 jobs; around 150 in Cardiff, over 100 in Swansea and over 30 in Newport.

Admiral, which has moved into new offices in Cardiff and Newport, alongside its established offices in Swansea, is now looking to fill a variety of positions across all three sites. The roles are not limited to Admiral’s contact centres but also the IT department and the company’s law firms.

Admiral Group is competing for the title of ‘National Public Champion’ in this year’s European Business Awards as the public vote opens for the first time.

Local employer, Admiral has celebrated the official opening of its Newport office by Welsh rugby player Jamie Roberts and three other members of the team.

Jamie, along with George North, Dan Biggar and Dan Lydiate joined Admiral's CEO Henry Engelhardt to mark the official opening of the city centre office. Representatives from many of the organisations involved in the building also attended the event.

Starting this week, local employer Admiral is moving 2,400 members of staff into its new Cardiff headquarters, Tŷ Admiral.

Admiral has had its headquarters in Wales since its launch in 1993. Starting with only 57 members of staff, the company now has over 7000 staff worldwide and 4 million customers.  It moved from premises on Newport Road to Capital Tower in 1999.

Starting this week, local employer Admiral is moving 2,400 members of staff into its new Cardiff headquarters, Tŷ Admiral.

Admiral has had its headquarters in Wales since its launch in 1993. Starting with only 57 members of staff, the company now has over 7000 staff worldwide and 4 million customers. It moved from premises on Newport Road to Capital Tower in 1999.

H1 2014 Group Results

Today, Monday 2nd June 2014, more than 450 Admiral Group staff will begin work in brand new offices in Newport city centre.

The staff, who have been located in Langstone Business Park since October 2008, will now be based in the specially built 6 storey, 80,800 sq ft office block on Queensway, directly opposite Newport railway station, a redevelopment of the Cambrian Centre.
Admiral Group CEO, Henry Engelhardt and COO, David Stevens will be greeting staff as they arrive for their first working day in the office.

Today, Monday 2nd June 2014, more than 450 Admiral Group staff will begin work in brand new offices in Newport city centre.

The staff, who have been located in Langstone Business Park since October 2008, will now be based in the specially built 6 storey, 80,800 sq ft office block on Queensway, directly opposite Newport railway station, a redevelopment of the Cambrian Centre.

Admiral Group CEO, Henry Engelhardt and COO, David Stevens will be greeting staff as they arrive for their first working day in the office.

Admiral Group has been named the third Best Large Workplace in the UK by the Great Place to Work Institute.

It is the company’s third year in a row the top three, the ninth year in a row in the top ten and the fourteenth consecutive year Admiral has been named in the list of best workplaces.

South Wales based insurance specialist, Admiral is looking to recruit 25 new employees in its Newport office.

The new recruits will start in July joining the company’s First Response and Outbound department in Claims. They’ll be the first new intake to start their careers in Admiral’s brand new office in the city centre of Newport.

Admiral Group has been named the second Best Big Company to Work For in the Sunday Times Best Companies to Work For in the UK list.

It is the first year Admiral has been in the Big Company Category which is for organisations with over 5,000 members of staff, and it’s the company’s highest ever placing in this competition.

Admiral is also the only company to have featured as one of the Best Companies to Work For every year since the competition started 14 years ago.

Admiral Group announces profit before tax of £370 million for the year to December 2013, an increase of 7% over the previous year. The Board is proposing a final dividend for 2013 of 50.6 pence per share, to be paid on 30 May 2014.

2013 Preliminary Results Highlights

Admiral Group has been recognised by the Welsh Government for the health and wellbeing of its staff through the award of the Gold Corporate Health Standard.

Run by the Welsh Government through Healthy Working Wales, the Corporate Health Standard (CHS) is the quality mark for workplace health promotion in Wales. The Standard has been developed to recognise good practice and to target the key preventable ill-health issues and the Health Challenge Wales priorities.

Admiral Group has extended its existing UK Car Insurance reinsurance partnerships with Hannover Re, Mapfre Re, New Re and Swiss Re to at least the end of 2016.  There has been no material change to the cost or contractual terms of these arrangements.

The extended reinsurance arrangements are in addition to the current agreement with Munich Re (covering 40% of the UK business), which runs to at least the end of 2018. 

Share of UK Car Insurance underwriting:

Admiral Group has completed a further sale of a minority equity stake in its US car insurance comparison website, Comparenow.com.

Effective from 18 December 2013, Admiral retains 67.8% ownership of Comparenow.com with White Mountains Insurance Group owning 21.1% and Mapfre USA owning 11.1%. Terms of the purchase are confidential, but Admiral can confirm that there is no material impact on the Group's 2013 full year results.

Admiral Group has extended its underwriting arrangements with Munich Re for its UK car insurance business. The long-standing partnership allows Admiral to mitigate risk exposure while benefitting from profit commission.

Munich Re underwrites 40% of Admiral's UK car insurance business and the new agreement extends this from the end of 2016 until at least the end of 2018. The cost and contractual terms remain confidential, but the Group confirms that they provide a slight improvement to Admiral from 2017.

Admiral's new office in Newport has reached an important milestone marked by a 'topping out' ceremony marking the completion of the highest point of the project.
The ceremony was attended by representatives from Admiral Group, Scarborough Development Group, its funding partner Investec Bank, and Newport City Council. Four members of Admiral staff who will be working at the building, also attended.

Topping out marks the completion of the building's frame. Internal fitting out and final completion is scheduled for August 2014.

H1 2013 Group Results

There was a double celebration in Cardiff on Thursday 27th June, when representatives from the property and construction industry came together for the 'topping out' of Admiral Group's stunning headquarters building and the winner of the 2013 Women in Property South Wales Student Awards was announced.

South Wales based insurance specialist, Admiral Group has announced it is recruiting 236 new employees over the next three months; 108 based in Swansea, 88 based in Cardiff and 40 based in Newport. The new staff members will take the total number of employees at the company to 5,145.

Admiral needs the new recruits in call centre departments including Sales, Customer Services and Renewals, to provide service to its increasing number of customers.

Admiral Group has extended its existing UK Car Insurance reinsurance partnerships with Hannover Re, Mapfre Re, New Re and Swiss Re to at least the end of 2015. There has been no material change to the cost or contractual terms of these arrangements.
The extended arrangements are in addition to the current co-insurance agreement with Munich Re (covering 40% of the UK business), which runs to at least the end of 2016.

Admiral Group plc announces a strong annual result with profit before tax of £345 million for the year to December 2012, an increase of 15% over the previous year. The Board is proposing a final dividend for 2012 of 45.5 pence per share, to be paid on 24 May 2013.

2012 Preliminary Results Highlights

Welsh rugby’s title sponsor Admiral has extended its current sponsorship contract with the reigning RBS 6 Nations Champions for a further two years, ensuring its name remains on the national team jersey until 2015.

Admiral’s logo first appeared in 2010, uniting Wales’ only FTSE 100 listed company with its national sport for the first time and it will now be retained until the next Rugby World Cup.

Admiral’s decision to extend the partnership strengthens the bond between two of the most high profile and successful organisations in Wales.

Local employer Admiral has given two members of staff a dream trip to Auckland to see Wales play France in the Semi Finals of the Rugby World Cup.

Craig Jenkins from Swansea and Julia Pring from Cardiff each won the opportunity to attend the game, which kicks off at 9am GMT in Eden Park on Saturday.

Admiral Group notes that the Ministry of Justice has confirmed it will impose a ban on the payment of referral fees in personal injury cases. Admiral welcomes any action taken to curb the compensation culture that currently exists in the UK motor insurance market.

We reiterate the disclosure provided during 2011 interim results presentation:

A Welsh Government backed pilot training package pioneered by Admiral Group to ensure job seekers have the specific skills they require has helped scores of unemployed people gain qualifications and find work.

The pilot is geared to meet the on-going recruitment needs of Admiral - the only FTSE100 listed company headquartered in Wales - while helping unemployed adults find work.

Admiral announces another record half-year profit and continued strong growth. Profit before tax at £160.6 million was 27% ahead of H1 2010, while turnover rose 53% to £1.1 billion.

The Board is declaring a record interim dividend payment of 39.1p per share.

H1 2011 Highlights

2,500 members of staff from car insurance specialist Admiral Group have shared a bonus pay out of £1.6 million.

The windfall is made up of dividends from the company’s approved share plan and a bonus* linked to the number of shares staff have in Admiral’s Discretionary Free Share Scheme (DFSS).

Building will bring more than £58 million investment to Cardiff city centre

Cardiff City Council planning committee has resolved to grant planning consent to developer Stoford's plans for a prestigious 220,000 sq ft headquarter building for motor insurance business, Admiral Group. The decision is subject to any new information being registered with the Council by or on 9th June. The building will be built on the site of the former David Street car park, a designated development zone, on Bridge Street, close to St David's shopping centre.

Admiral announces another record profit coupled with continued strong growth. Profit before tax at £266 million was 23% ahead of 2009, whilst turnover rose 47% to £1.58 billion. The Board is proposing a record final dividend for 2010 of 35.5p per share, to be paid on 10 June 2011.

2010 Preliminary Results Highlights

We are pleased that the European Court of Justice has decided to grant insurers a period of grace in order to introduce the necessary changes. We will now be taking some time to digest the full meaning of the ruling for British insurers and use the transition period to introduce an accurate, gender neutral pricing structure.

Further to the announcement made on 7 December 2010 regarding entering into exclusive discussions, Admiral Group plc (“the Group”) confirms that it has now sold AdmiralDirekt, the Group’s car insurance operation in Germany, to Itzehoer Versicherung. The value of the gross assets disposed of is £4.4m (€5.2m).

The insurance contracts generated by AdmiralDirekt and underwritten by the Group in 2011 will be fully reinsured by Itzehoer. It is intended to transfer the insurance contracts for 2011 and prior years to Itzehoer subject to Court and Regulatory approval.

The Group is pleased to announce that its direct insurance operation in France, L’Olivier (Olive Tree), launched today from its offices in Paris. As with our other international operations, we expect a modest start with small initial volumes as we learn more about the French market and how to develop our model. The Group will provide further update when it announces its results for the year ending 31 December 2010 on 2nd March 2011.

Admiral Group plc (“the Group”) is in discussions with Itzehoer Versicherung in respect of the sale of AdmiralDirekt, the Group’s start-up car insurance operation in Germany. Itzehoer Verischerung have expressed an interest in purchasing the Admiral Direkt operations and car insurance portfolio. The terms of any sale are yet to be finalised and it is not certain that a sale will take place. AdmiralDirekt is continuing business as usual.

The Welsh Rugby Union today, Wednesday 8 September, unveiled its new national team kit for the 2010 / 2011 season featuring, for the first time, the logo of new shirt sponsor and official partner Admiral.

The Wales international rugby squad kit has been designed, produced and manufactured by American performance sports clothing giant Under Armour since 2008.

Admiral announces another record half-year profit and continued strong growth. Profit before tax at £126.9 million was 21% ahead of H1 2009, whilst turnover rose 33% to £720.5 million. The Board is declaring a record interim dividend payment of 32.6p per share.

H1 2010 Highlights

South Wales motor insurance specialist Admiral Group has announced plans to move into a new headquarters in Cardiff city centre.

The new office, which at 220, 000 sq ft will be the biggest pre-let office project ever seen in Cardiff, will be developed by Midlands-based property specialists Stoford. It will allow Admiral to potentially increase the number of people it employs in the capital to more than 3,000 in a single building.

The decision is still subject to satisfactory planning permission being granted by Cardiff City Council.

With unemployment figures at their highest since 1994 not many companies have good news regarding recruitment. But one company is bucking the trend and has already recruited 490 people this year and plans to take on a further 261 by the end of June.

In a momentous year for Welsh golf, insurance firm Admiral, one of Wales’ largest employers, has joined forces as the official partner to the prestigious Ryder Cup Wales Seniors Open to give the sport a further boost in the run up to The Ryder Cup.

Wales will launch its assault on the most powerful teams in World rugby from this autumn with a new multi million pound sponsorship partnership which emblazons the international insurance services brand Admiral onto the famous Welsh jersey.

The Welsh Rugby Union has contracted to Admiral for the next three years in a deal which links two of the biggest brands now representing the sporting, commercial and culture image of the nation outside Wales.

Admiral achieves another record profit coupled with continued strong growth. Profit before tax at £216 million was 7% ahead of 2008, whilst turnover rose 18% to £1,077 million. The Board is
declaring a second interim dividend for 2009 of 29.8p, to be paid on 1 April, in place of a final dividend.

2009 Preliminary Results Highlights

The Group is pleased to announce that its price comparison website in Italy, trading under the name of Chiarezza.it (meaning ‘clarity’), has launched from its offices based in Milan. As with our other international operations, we expect a modest start with small initial volumes as we test various marketing campaigns. The Group will provide further update when it announces its results for the year ending 31 December 2009 on 2nd March 2010.

The Group is pleased to announce that its price comparison website in France, trading under the name of LeLynx.fr, has launched from its offices based in Paris. As with other international operations, we will start modestly, volumes are expected to be small during the coming months as we test various marketing campaigns. The Group will provide further update when it announces its results for the year ending 31 December 2009 in March 2010.

Admiral Group (“Admiral”) today announces that it has signed new reinsurance contracts with Munich Re and Hannover Re for its new car insurance operation in the USA, Elephant Insurance (“Elephant”). Admiral also announces that it has extended its long-term coinsurance and reinsurance arrangements with Munich Re for its UK, Spanish and Italian businesses, while the existing agreement for the German business remains in place.

Admiral Group, the FTSE 100 UK insurance group, and Mapfre S.A., member of the IBEX 35 index, announce Mapfre Familiar’s purchase of a 25% shareholding in Admiral’s new price comparison business in Spain, Rastreator.com. Terms of the purchase have not been disclosed.

Rastreator.com launched at the end of March as one of the first car insurance price comparison sites in Spain. It is attempting to follow the highly successful footsteps of Confused.com in the UK.

Admiral Group plc is delighted to announce that it has today launched its new car insurance operation in the USA. The business, based in Richmond Virginia, will trade under the name of Elephant and will sell car insurance to US customers direct by telephone and internet. It will initially trade in one state only, Virginia, and, in common with our other international operations, will start modestly as we learn more about the US market and how to develop our model. The Group will provide further update when it announces its results for the year ended 31 December 2009 in March 2010.

Admiral achieves another record half year profit coupled with continued good growth. Profit before tax at £105.3 million was 5% ahead of H1 2008, whilst turnover rose 17% to £540.1 million. The Board is declaring a record interim dividend payment of 27.7p per share.

H1 2009 Highlights

The Group is pleased to announce that its price comparison website in Spain, trading under the name of Rastreator, has launched from its offices based in Madrid. It is intended that various marketing campaigns will be tested over the coming months and volumes will be small during this period. The Group will provide further update when it announces its interim results for the half year ending 30 June 2009 in August 2009.

Admiral Group plc (“Admiral” or “the Group”) today announces a strong annual result with a profit before tax of £202.5 million for the year to December 2008, an increase of 11% over the previous year. Turnover, comprising total premiums and other revenue, rose 13% to £910 million.

2008 Preliminary Results Highlights

Admiral announces another record half-year profit and continued strong growth. Profit before tax at £100.3 million was 16% ahead of H1 2007, whilst turnover rose 13% to £472.5 million. The Board is therefore declaring a record dividend payment of 26.0p per share.

H1 2008 Highlights

Admiral Group plc (“Admiral” or “the Group”) today announces a record annual result with a profit before tax of £182.1 million for the year to December 2007, an increase of 24% over the previous year. Turnover, comprising total premiums written, gross other income and investment income, rose 16% to £824.9 million.

2007 Preliminary Results Highlights

Admiral Group plc (“Admiral” or “the Group”) today announces a strong interim result with a profit before tax of £86.3 million for the six months to 30 June 2007, an increase of 26% over the same period in 2006. Group turnover, comprising total premiums written, gross other income and investment income, rose 16% to £417.8 million.

2007 Interim Results Highlights

Admiral Group plc ("Admiral" or "the Group") today announces a record annual result with a profit of £147.3 million for the year to December 2006, an increase of 23% over the previous year. Group turnover, comprising total premiums written, gross other income and investment income, rose 11% to £708.2 million.

2006 Preliminary Results Highlights

Admiral Group plc (“Admiral” or “the Group”) today announces a strong interim result with a profit before tax of £68.7 million for the six months to 30 June 2006, an increase of 24% over the same period in 2005. Group turnover, comprising total premiums written, gross other income and investment income, rose 12% to £359.2 million.

2006 Interim Results Highlights

Admiral Group plc ("Admiral" or "the Group") today announces a record annual result with a core profit1 of £122.1 million for the year to December 2005, an increase of 21% over the previous year. Group turnover, comprising total premiums written, gross other income and investment income, rose 16% to £638.4 million.

2005 Preliminary Results Highlights

Leading Welsh employer Admiral Group is strengthening its position in Wales by creating more than 250 jobs in Swansea over the next 3 years. In order to accommodate the increased numbers it's moving from its current Alexandra House location to brand new purpose built offices on the SA1 Swansea Waterfront development.

Admiral Group plc ("Admiral", or "the Group") today announces record interim results with a core profit* of £56.9 million for the six months to June 2005, an increase of 17% over the same period in 2004. Group turnover, comprising total premiums written, gross other income and investment income, rose 19% to £319.3 million.

2005 Interim Result Highlights

Admiral Group plc ("Admiral", or "the Company") today provides an update on current trading. The Company will announce its 2005 first half-year results on 6 September 2005.

Highlights

Admiral's turnover grew to £319.4m in H1 2005 compared to £269.3m H1 2004, an increase of 19%. Compared to H2 2004 turnover is up 15%.

Financial services intermediary Admiral is offering to pick up the tab for talented Welsh students at Europe's premier business school. Over the next 3 years, Admiral will offer at least 3 Welsh students scholarships of up to £20,000 each to help cover the cost of tuition and living expenses at INSEAD business school.

Admiral Group plc ("Admiral", or "the Group") today announces a record adjusted core profit of £100.6 million for the year to December 2004, an increase of 30% over the year earlier. Aggregate group turnover, comprising total premiums written, gross other income and allocated investment income, rose 28% to £548.0 million.

2004 Highlights

Before entering its closed period on 21 January 2005, Admiral Group plc ("Admiral", or "the Company") today provides an update on current trading. The Company will announce its preliminary results for the year ended 31 December 2004 on 21 March 2005.

Admiral expects to deliver profits in 2004 in line with management expectations set out at the time of the Company's Initial Public Offering in September 2004.

2004 Highlights

Admiral Group plc ("Admiral") is delighted to announce that it has been included in the FTSE 250 index following the quarterly review of the UK Index Series, as announced by FTSE today.

Admiral was ranked 189th largest FTSE company, according to the FTSE ground rules, which give a 40% weighting to the Company's total market capitalisation of £829.4m (at market close on 7 December 2004), based on its free float of 37.4%.

All announced index changes will be effective on Monday, 20 December 2004, as announced by FTSE today.

Admiral Group plc ("Admiral", or "the Company") today announces a change to its proportional reinsurance arrangements for wholly owned underwriting subsidiary Admiral Insurance (Gibraltar) Limited ("AIGL").

With effect from 1 January 2005, Gen Re and Axis Re Europe ("Axis") have agreed to increase their reinsurance participation to 5% each of Admiral's total written premium from previously negotiated shares of 2.5% and 1%, respectively. Gen Re has secured a 12-month contract and Axis has secured a 24-month contract.

Admiral Group plc ("Admiral" or "the Company") today announces the successful pricing of its initial public offering of existing ordinary shares to institutional investors (the "Global Offer").

Admiral Group plc ("Admiral" or "the Company") today announces the successful pricing of its initial public offering of existing ordinary shares to institutional investors (the "Global Offer").

Admiral Group Limited (“Admiral” or “the Company”) announces today the launch of a global offer of existing ordinary shares (“the Global Offer”) through an institutional offering as part of its plans to float on the London Stock Exchange. The indicative price range of the Global Offer is 245 pence to 300 pence per existing ordinary share, which implies an equity value for the Company of between £634 million and £776 million.

Admiral Group, the financial services intermediary, announces today a 30.5% increase in adjusted core profit for the six months ended 30 June 2004 to 45.3 million. Aggregate group turnover, comprising total premiums written, gross other income and allocated investment income, rose 30.2% to 269.3 million (2003 H1: 206.8 million).