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Admiral's UK/international insurance turnover grows; Solvency ratio rises by 19%

Written by Adam Cadle

Admiral has seen its UK insurance business turnover grow by 11% to £1.14bn (H1 2016: £1.03bn) and its international insurance business turnover grow by 39% to £221.9m (H1 2016: £159.2m).

According to the group's latest financial results, its solvency ratio has risen by 19% from 180% to 214%.

Admiral’s investment strategy was unchanged in 2017 and the group continued to invest in the same asset classes as previous years.

The group’s key objective in relation to investments is capital preservation, with additional priorities including low volatility of returns and high levels of liquidity.

Investment and interest income in the first half of 2017 was £23.3m, a decrease of £10.1m on 2016 (£33.4m).

"The decrease is mainly due to the first half of 2016 benefiting from £9m relating to movements in accruals relating to quota share reinsurance arrangements," Admiral said.

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