UK's Admiral gains after annual profit jumps nearly twofold

Admiral

06/03/2025 08:55

** Shares of UK-based insurer Admiral Group ADML.L up as much as 9.4% at 3,174p

** Stock among top gainers on FTSE 100 .FTSE index, which is down 0.38%

** Company posts pre-tax profit of 839.2 mln pounds ($1.08 bln) for the year ended December 2024, compared with 442.8 mln ($571.1 mln) in 2023

** "The main driver of our exceptional performance was our UK Motor business," says Group CEO Milena Mondini de Focatiis

** Company is also in talks to sell its U.S. insurance business, Elephant

** Says it will also pay special dividend of 29.6 pence, along with its normal dividend

** ADML stock was down ~0.23% in 2024

($1 = 0.78 pounds)

 (Reporting by Rishab Shaju in Bengaluru)

 ((Rishab.shaju@thomsonreuters.com))