Covid curbs drive Admiral to record profits
Admiral has posted record pre-tax profits of £638m for 2020, reaping the benefit of fewer claims as a result of quieter roads during lockdown.
The group’s core UK motor segment saw a 16% boost to profits, netting £683.4m as its combined operating ratio improved to 69% compared to 79.8% in 2019. The group’s overall COR was 81.2%.
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