Statement re regulatory capital position <Origin Href="QuoteRef">ADML.L</Origin>

AdmiralAnnouncement

07/12/2015 09:10

Notice of regulatory capital position with effect from 1 January 2016 
 
 Admiral Group plc ('Admiral' or 'the Group') confirms that the level of
Capital Add-On to be applied to the Solvency II Standard Formula has been
agreed with the Prudential Regulation Authority ('PRA').  The Add-On is
consistent with the level calculated by Admiral and takes effect from 1
January 2016. 
 
 After accounting for an appropriate margin above the Group's capital
requirement, Admiral expects to hold a level of surplus capital as it enters
Solvency II.  
 
 Admiral notes that there is an inevitable level of general uncertainty as the
new regulatory regime comes into effect, and as the Group continues its
transition to using a Partial Internal Model to calculate its capital
requirement (an application in respect of which is currently expected to be
made during 2017) which might impact the Group's capital requirements in the
future. 
 
 Further details on the capital position and requirement, together with
implications for returns to shareholders, will be provided with the Group's
results for the financial year ending 31 December 2015 on 3 March 2016. 
 
 For more information, please contact: 

 Karen Maguire                  Investors & Analysts +44 (0)
29 2060 2075 
 James Carnduff                Media +44 (0) 29 2043 4232 

 


 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients. 
 The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein. 
 Source: Admiral Group PLC via Globenewswire 
 HUG#1971440