Admiral Group (ADM) investor relations material

Executive summary

• Achieved record profit of £958 million, up 16% year-over-year, with disciplined execution and growth across all segments.

• Advanced data, technology, and AI initiatives, including over 150 GenAI projects and the acquisition of Flock (pending regulatory approval).

• Customer base grew 7%, with a group net promoter score above 50.

• Shareholder returns strengthened by a 7% increase in dividend per share and a solvency ratio of 193%.

• Leadership transition announced, with Rachel succeeding Geraint as CFO.

Financial highlights

• Group profit reached £958 million, a 16% increase year-over-year; excluding Ogden, profit rose 28%.

• Group turnover reached £5.9bn, with group EPS at 247.4p and return on equity at 53%.

• U.K. Insurance profit hit £1.1 billion, with U.K. Motor delivering a record profit just over £1 billion.

• Other U.K. personal lines and Admiral Money combined for £88 million profit; Admiral Money profit nearly doubled year-over-year.

• European operations returned to profitability, with a combined ratio of 94% and €39 million motor profit; France Motor profit up 21%, Italy Motor swung to a £3m profit.

Outlook and guidance

• Expect group profit in 2026 to be flat versus 2025, with continued customer growth and turnover acceleration.

• Anticipate faster growth in personal lines, Admiral Money, and Europe, with margin expansion in newer lines.

• Market prices in U.K. Motor expected to increase in 2026; disciplined pricing and retention remain priorities.

• Plan to double profit in non-U.K. Motor businesses by 2028.

• Newer businesses are projected to continue increasing profits.