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Admiral flags strong growth

by LLB Editor
11th Aug 21 10:58 am

Admiral comes out of its latest set of results looking like the Rolls Royce of motor insurers. Compared with its peers the growth in profit and customer numbers the company is chalking up is highly impressive.

“While the industry as a whole benefited from a period with fewer cars on the road, leading to fewer accidents and, in turn, fewer claims, Admiral seems to have managed the situation better than its rival insurers,” says AJ Bell’s Danni Hewson

“Admiral has won over customers by offering flexibility, boosting its digital capability and paying out customer rebates in a timely fashion, helping to put it ahead of the pack in a highly competitive market.

“These qualities have been rewarded with a double-digit increase in customer numbers at a time when other UK motor insurers are struggling to eke out any growth here at all.

“Shareholders are being richly rewarded with record dividend payments and Admiral’s strong financial position gives it lots of options while it works out what route it wants to take next.

“The road ahead could be a little bumpier for Admiral as the artificially lower levels of traffic and collisions driven by Covid restrictions starts to unwind, however the company has clearly demonstrated its ability to steer the right course.”

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