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Admiral profits surge as fewer lockdown claims slice chunk off combined operating ratio

By Yannick Guerry 2020-08-12T07:55:00

Admiral 1

Like its peers Hastings and Direct Line, Admiral has benefited from a fall in claims frequency during lockdown

Admiral’s half-year results have followed the trend seen for other motor insurers - a profit boost due to the reduction in car claims during lockdown.

The group’s combined operating ratio improved to 83% for the first six months of the year compared to 92.3% for the same period of 2019.

”Lockdown restrictions in the Group’s markets resulted in significantly lower motor insurance claims frequency as customers stayed at home and fewer miles were driven”, the company said.

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