Admiral lifts dividend after profit growth, though motor premiums drag
Admiral Group PLC on Thursday hailed strong trading in 2025, hiking its dividend as it reported a profit rise.
The Cardiff-based home and motor insurer booked £954.8 million in annual pretax profit, up 14% from £839.2 million on-year, while pretax profit from continuing operations rose to £957.9 million from £826.5 million.
Analysts at UBS noted the pretax profit outcome beat consensus of £944.0 million.
Admiral’s net insurance and revenue result was £884.2 million, up 13% from £785.8 million. Overall revenue slipped by 0.9% to £5.90 billion from £5.95 billion, with the company noting that growth in UK Other Personal lines was offset by a 7% downturn for the UK Motor arm, as average premiums reduced. Insurance revenue alone was 9.4% higher at £4.98 billion.
It has declared a final dividend of 90.0 pence per share, including an ordinary dividend of 72.8p, and a special dividend of 17.2p. This is down from 121.0p in 2024, though the total dividend remains 7% ahead of the previous year at 205.0p, up from 192.0p.
Admiral shares rose 4.8% to 2,996.00p on Thursday morning in London.
‘Total premium was lower than 2024 as prices reduced, reflecting improving claims inflation but also a competitive market. Market prices appear to have plateaued around the end of 2025, and we expect prices to start increasing in the not-too-distant future (and have increased our own motor prices in early 2026),’ the company said on Thursday.
The firm’s reported combined ratio worsened to 80.1% in 2025 from 76.9% in 2024. A combined ratio below 100% shows an insurer is making an underwriting profit, so the lower the figure, the better.
In Europe, it saw ‘good growth and higher profit in France and a small profit in Italy (though at the expense of a smaller portfolio as we expected). In Spain the result was a little worse on the bottom line, though this was mainly due to new reinsurance contracts taking effect.’
Chief Executive Milena Mondini de Focatiis called it ‘a year of purposeful acceleration’, saying: ‘Admiral is now more resilient and diversified, with over half our customers from lines or geographies other than UK Motor.’
The CEO continued: ‘We completed the integration of More Than, continued to enhance our product range and increased our investment in technology, data and artificial intelligence...In early 2026, we announced plans to acquire Flock, a fast?growing, telemetry?based digital fleet insurer. This reflects our intention to expand into attractive markets, where our data?led approach and risk expertise can also support better safety and customer outcomes.
‘As we refresh our strategy, our focus is on compounding Admiral‘s strengths in data, technology, diversified products and operational excellence to drive greater efficiency, stronger customer retention and long?term value creation, particularly through multi?product relationships...I am confident Admiral is well-positioned for success in 2026 and beyond.’
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