Admiral 2017 Half Year Results - Admiral Group plc

Admiral 2017 Half Year Results

16th August 2017

Introduction

David Stevens, Group CEO

Group overview

Geraint Jones, Group CFO

UK Insurance

Cristina Nestares, UK Insurance CEO Lorna Connelly, UK Head of Claims

Price Comparison

Andrew Rose, CEO

International Insurance

Milena Mondini, European Insurance CEO

Wrap up

David Stevens, Group CEO

Q&A

All

Highlights

Customers

5.46m

13% H1 16: 4.82m

Turnover1

?1.45bn

15% H1 16: ?1.26bn

Profit before tax2

?195m

1% H1 16 : ?193m

Solvency ratio3

214%

19% H1 16 : 180%

Earnings per share

xx% 57.3p

3% H1 16 : 55.9p

Return on equity5

55%

10% H1 16 : 50%

Interim dividend per share

10% 56.0p

H1 16 : 51.0p4

Note: (1) Turnover comprises total premiums written plus other revenue. (2) Profit before tax adjusted to exclude

16th August 2017

minority interest share. (3) Refer to slide 9. (4) H1 2016 interim dividend adjusted to exclude return of surplus capital.

2

(5) Restated.

Continued growth across the Group

Turnover

Customers

UK Car Insurance

UK Household Insurance

9% ?1,083m

H1 16: ?993m

37% ?48m

H1 16 : ?35m

7% 3.77m

H1 16 : 3.52m

43% 548k

H1 16 : 382k

International Insurance

40% ?222m1

H1 16 : ?159m

27% 961k

H1 16 : 758k

Price Comparison

14% ?73m

H1 16 : ?64m

Note: (1) Local currency turnover up 30% for Europe and 17% for US H1 17 vs H1 16

16th August 2017

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Group overview

Geraint Jones Group CFO

Analysis of half year profit

Group profit before tax1

?186m

?193m

?195m

118%

117%

116%

-2%

-1%

2%

-6%

-7%

-5%

-10%

-9%

-13%

H1 2015

H1 2016

H1 2017

Price Comparison

UK Insurance

International Car Insurance Other Group Items

UK Insurance profit up slightly to ?226m: Stable UK Car Insurance profit of ?224m (v ?223m) Increased UK Household profit at ?1.6m up from

?1.2m

International Insurance loss reduced to ?10.1m from

?12.9m (significantly reduced US loss)

Price Comparison result improved to ?3.1m profit from

?1.1m loss (improved result, partly offset by lower profit)

Other includes business development, share scheme

and debt servicing costs. Main changes:

Business development costs at ?5.9m v ?2.2m

(notably Admiral Loans costs)

Share scheme charges ?16.9m v ?14.7m (increase

mainly due to headcount growth)

Note: (1) Profit before tax adjusted to exclude minority interest share.

16th August 2017

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