Admiral 2020 Half Year Results
Covid Impact: Short term disruption, business remains resilient
Admiral Covid Response: Good outcomes for all stakeholders
Covid Outlook: Some interesting opportunities and challenges
Geraint Jones – Group CFO
Growth impacted by Covid, though recent trends more positive
Strong increase in Group profit, partly flattered by Ogden hit in H1 2019
UK Motor – loss ratios and positive reserve releases
UK Motor – loss ratios and positive reserve releases
Healthy solvency position maintained; interim 2020 dividend includes deferred 2019 final special dividend
Healthy solvency position maintained; interim 2020 dividend includes deferred 2019 final special dividend
Cristina Nestares – UK Insurance CEO
UK Motor – income impacted by Covid uncertainty, but starting to pick up towards end of H1
UK Motor – dramatic drop in frequency followed by steady recovery
UK Motor – pricing uncertainty remains
Household continues to grow; Covid impact limited
Premium refund strengthens brand and Covid impact accelerates digital transformation
Costantino Moretti - Head of International Insurance
International Insurance – sustainable growth
International Insurance – strong prior year development
International Insurance summary
Elena Betes – Online Comparison Portals Director
European comparison sites remain resilient despite major Covid disruption
Comparison beyond Europe – challenge and opportunity
International Comparison summary
Scott Cargill - Admiral Financial Services CEO
Strong controlled growth in balances over time
Rapid response to Covid crisis leaves us well placed for future growth