Admiral builds on pre-pandemic profits in 2022 despite inflation pressures
Admiral has reported pre-tax profits of £616m from its insurance operations in the UK last year, despite markedly deteriorating loss ratios.
In motor, which accounts for 71% of the group’s UK insurance customers, higher claims inflation and increased claims frequency pushed the loss ratio up 18.5% year-on-year to 71.5%.
Compared with 2019
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