Skip navigation

Gloucestershire Business News

Admiral insurance drives up profits

Insurer Admiral has seen a 76% rise in its first half year profits.

The company made a profit of £482m in the first six months of 2021 and increased its customers by 850,000, taking its total overall to more than 8 million.

Financial analyst Danni Hewson, of AJ Bell, told The Mail the firm was looking like the 'Rolls Royce of motor insurers'.

She said: "Compared with its peers the growth in profit and customer numbers the company is chalking up is highly impressive."

The insurance industry as a whole has benefited from a period with fewer cars on the road, leading to fewer accidents and, in turn, fewer claims, but Admiral seems to have come out of the crisis better than its rivals.

Hewson said: "Admiral has won over customers by offering flexibility, boosting its digital capability and paying out customer rebates in a timely fashion, helping to put it ahead of the pack in a highly competitive market."

Shareholders are to get a special dividend later in the year.

Related Articles

SIGNED OFF: Sale and expansion at prominent Gloucester business hub Image

SIGNED OFF: Sale and expansion at prominent Gloucester business hub

Wulff Capital Holdings said it has gained an "excellent foothold" into the city's market

Historic Cotswold pub up for grabs Image

Historic Cotswold pub up for grabs

16th century Lechlade inn on the market.

Invest in Gloucestershire celebrates another win Image

Invest in Gloucestershire celebrates another win

A New Zealand-based business is set to open a new headquarters in Cheltenham.

CyNam awarded funding to improve collaboration  Image

CyNam awarded funding to improve collaboration

CyNam has been awarded funding for the prestigious Barclays Eagle Labs Ecosystem Partnership Programme.

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.