Admiral Group reported a year end pre tax profit of £101m up...
Admiral Group reported a year-end pre-tax profit of £101m for 2004 up from £57.2m a year earlier.
Core profit rose 30% to £100.6m from £77.2m in 2003, the company said. Net profit was also on the rise coming in at £86.6m from £39.2m a year earlier.
Total premium written for 2004 was recorded at £470m, accounting for 86% of Admiral's turnover. There has also been a 29% increase in the number of customers on the company's books from 808,000 in 2003 to 1,041,000 in 2004.
Commenting on the state of the industry chief executive Henry Englehardt said: “I believe that the market is still cyclical and there is no reason that it won't remain so.
“However, I believe the movements of the market will be less severe, with the best of the cycle less good than previous cycles and the worst times of the cycle less bad.”
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
