Admiral sees net profits up but COR continues slide
Admiral Group has reported pre-tax profits of £345m for the year ending 31 December, an increase of 15%, but the group’s combined ratio again deteriorated, reaching 96.6%.
By contrast the insurer reported profits of £299m for 2011, with a combined ratio of 95.7%.
Admiral's group combined ratio for 2010 was 89.3%.
The insurer's UK motor operation delivered increased
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