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Admiral 2019 Full Year Results
Admiral 2019 Full Year Results
Group Geraint Jones – Group CFO
Group Geraint Jones – Group CFO
Another year of record profit
Another year of record profit
UK Motor largely flat but strong growth continues elsewhere
UK Motor largely flat but strong growth continues elsewhere
2019 profit significantly higher, led by positive back year movements
2019 profit significantly higher, led by positive back year movements
Very positive movements in back year loss ratios, though a less positive current year
Very positive movements in back year loss ratios, though a less positive current year
Very positive back years = elevated reserve releases and profit commission
Very positive back years = elevated reserve releases and profit commission
Strong solvency position maintained
Strong solvency position maintained
Higher profits lead to significantly higher final dividend
Higher profits lead to significantly higher final dividend
Group key messages
Group key messages
UK Insurance Cristina Nestares – UK Insurance CEO
UK Insurance Cristina Nestares – UK Insurance CEO
UK Insurance – an overview
UK Insurance – an overview
Market prices continued to increase in H2…
Market prices continued to increase in H2…
…However, there are still uncertainties that may influence market pricing
…However, there are still uncertainties that may influence market pricing
Expense ratio driven by levies; investment in online capabilities for the future
Expense ratio driven by levies; investment in online capabilities for the future
Continued growth in UK Household
Continued growth in UK Household
UK Insurance summary
UK Insurance summary
UK Motor Claims Deep Dive Alistair Hargreaves – UK Insurance COO
UK Motor Claims Deep Dive Alistair Hargreaves – UK Insurance COO
Large BI settlements are the key driver of increased reserve releases
Large BI settlements are the key driver of increased reserve releases
Bodily Injury costs remain significant for Admiral despite market wide increase in damage costs
Bodily Injury costs remain significant for Admiral despite market wide increase in damage costs
Early signs that very rapid damage inflation may reduce despite increased levels of theft
Early signs that very rapid damage inflation may reduce despite increased levels of theft
Small BI has remained stable, whiplash reforms will be positive though uncertainties remain
Small BI has remained stable, whiplash reforms will be positive though uncertainties remain
We provide great claims outcomes for customers
We provide great claims outcomes for customers
UK Claims Deep Dive summary
UK Claims Deep Dive summary
International Insurance and Comparison Milena Mondini – Group CEO Designate
International Insurance and Comparison Milena Mondini – Group CEO Designate
Strong performance from Confused.com
Strong performance from Confused.com
European comparison sees increased profits; reduced losses for Compare.com
European comparison sees increased profits; reduced losses for Compare.com
Elephant loss ratio under pressure, slightly offset by expense ratio improvements
Elephant loss ratio under pressure, slightly offset by expense ratio improvements
European Insurance continues to grow profitably
European Insurance continues to grow profitably
European strategy continues to build upon economies of scale
European strategy continues to build upon economies of scale
Comparison and International Insurance summary
Comparison and International Insurance summary
Strategy Update David Stevens – Group CEO
Strategy Update David Stevens – Group CEO
Admiral continues to deliver on its long term strategy…
Admiral continues to deliver on its long term strategy…
…and in 2019 we made good progress on each element
…and in 2019 we made good progress on each element
Loans – improving risk selection as we build experience
Loans – improving risk selection as we build experience
…and in 2019 we made good progress on each element
…and in 2019 we made good progress on each element
European insurance demonstrates long term sustained growth - top & bottom line
European insurance demonstrates long term sustained growth - top & bottom line
…and in 2019 we made good progress on each element
…and in 2019 we made good progress on each element
Maturing loss ratios confirm market leading competence
Maturing loss ratios confirm market leading competence
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