Admiral records 7% profit growth as reserve releases soar
Admiral Group today posted a 2013 pre-tax profit of £370m, a 7% increase on its 2012 result, in a year group chief executive Henry Engelhardt called a “baked potato”.
Group turnover was down 8% from £2.22bn in 2012 to £2.03bn last year while group vehicle count increased 4% to 3.7 million from 3.55 million in 2012.
The group's combined ratio improved to 89.1% from
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