Double-digit profits at Admiral as dividends rise for shareholders
FTSE 100 listed insurer Admiral reported double-digit profit growth over the last financial year, as the group pivots itself toward high-tech commercial insurance.
The group profit before tax rose 16 per cent to £958m – up from £827m in 2024 – as its UK motor division surpassed the £1bn profit mark.
Its other UK personal lines, Admiral Money and European Motor operations, together generated nearly £100m of profit, with strong results in France and a rapid recovery in Italy after a tough previous year.
Over the financial year, Admiral has diversified its core car insurance business line.
Group chief executive Milena Mondini de Focatiis told CityAM, “There has been a story of constant growth and organic growth, and if you look forward, we still have a plan that are very strong and based on organic growth, and we’re very confident on being able to continue to grow virtually every business in the next few years and increase profitability.”
“But we’re also very keen to see if there are opportunities to accelerate diversification,” she added.
This included an £80m acquisition of Flock, telemetry-based fleet insurance tech firm, selling its US motor business, and integrating the pet insurer More Than.
On its exit from the US market, Mondini de Focatiis noted it was the right move for Admiral, adding, “We have a great opportunity in the UK”.
The group is also focused on tech acceleration, establishing a GenAI Centre of Excellence, as Mondini de Focatiis explained: “[GenAI]’s potential to improve the interaction with the customer”.
However, when it comes to GenAI’s impact on jobs at Admiral, she noted, “we don’t necessarily think this is going to have a major impact”.
One of our biggest focuses is on our culture. We’re not shy, we’re investing in re-skilling our staff, making sure they’re part of this transformation, and making sure we have the right skill set, and people really embrace new technology to do their job better.”
Over 13,000 staff members will receive free share awards worth up to £1,800 each, following the ‘legendary’ status recognition for the company’s culture.
The FTSE 100 group had a total dividend of 205p per share for the year, including a final dividend of 90p.