Admiral House, and J shed in SA1 Waterfront
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.
Admiral is Wales' only FTSE 100 Company, employing 1,600 people in Cardiff, 1,200 In Swansea's SA1 Waterfront, and 200 in Newport.
"In 2009 Admiral’s continued strong growth enabled us to exceed £1 billion turnover for the
first time in our history, to deliver yet another set of record profits and to pay another record
dividend. This is no mean feat whatever the circumstances but given that 2009 was a year of
recession and record lows for investment returns this is an outstanding achievement"
"The UK car insurance business remains central to our success, once again producing a great
result, a pre-tax profit of £207 million. We increased the number of customers by 17% and
achieved a combined ratio of 85%. At the same time we increased premium rates by 12% during
2009, broadly in line with the UK market where, after a period of minimal increases, premiums
are now rising to compensate for claims inflation in recent years".
For a video on the results with the Admiral executive team visit http://admiralgroup.co.uk/media/full_year_02032010.php
Admiral joined forces with Swansea Bay Futures to ensure the continuing improvement of the economic "health" of Swansea. Admiral has shown its commitment to the area by its expansion there, and now the company wants to continue this commitment by aiding the regeneration of an area it is actively involved in. It is Admiral’s belief that this is best achieved in conjunction with Swansea Bay Futures.
Swansea Bay Futures works in Partnership with a range of public and private sector companies, Find out more.
