Admiral COO describes 2011 as a year of two halves as profit hits £299m
Admiral has reported group profit before tax up 13% at £299m in 2011 (2010: £266m) on a turnover up 38% at £2.19bn (2010: £1.58bn).
The group saw net claims and expenses rise to £335.5m (2010: £192.6m) and £46.7m (2010: £46.7m) respectively and underwriting profit fall to £47m (2010: £52.7m). Its loss ratio worsened to 77.3% (2010
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