Interim report
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11 August 2021 Positive claims experience drives strong Admiral Group results for H1 2021 2021 Interim Results Highlights 30 June 2021 30 June 2020 % change Group profit before tax , continuing operations 1 Earnings per share , continuing operations 1 Group profit before tax , including discontinued operations and gain on disposal² 3 Interim dividend per share ³ £ 482.2 million 132.9 pence £ 274.4 million + 76 % 79.7 pence + 67 % £ 897.9 million £ 286.1 million + 214 % 115.0 pence 70.5 pence + 63 % First special dividend per share from sale of Penguin Portals comparison businesses 46.0 pence Return on equity 12 68 % 50 % + 36 % Group turnover 124 £ 1.75 billion £ 1.60 billion + 9 % Net revenue 1 £ 0.79 billion £ 0.61 billion + 30 % Group customers² 8.02 million 7.17 million + 12 % UK Insurance customers² 6.22 million 5.58 million + 12 % International Insurance customers² 1.71 million 1.49 million + 14 % Loans and advances to customers , net of provision £ 425.7 million £ 455.3 million -7 % Solvency ratio ( post dividend ) 2 . 25 209 % 186 % + 12 % Around 10,000 staff each receive an award worth up to £ 1,800 under the employee share scheme based on the interim 2021 results . Comment from Milena Mondini de Focatiis , Group Chief Executive Officer " A good strategy is a plus ; good execution is a must , especially in times of disruption . It's been a half year of good execution for Admiral . By and large , we've done the right things more often and a bit earlier than most . " This included adjusting pricing ahead of the market in the UK to reflect shifting pandemic - related claims trends and providing more self - service and digital options to our customers . These actions have rewarded us with double digit growth in policy numbers in the UK and in international insurance , whilst operating in very competitive markets . " Another highlight of this half year is a notably higher level of profit ¹ - driven by positive development of prior years in our UK Motor book resulting in increased reserve releases and higher than usual profit commission , as well as lower levels of claims frequency . We also made progress against our long - term strategy , increasing adoption of advanced analytics models and planting new seeds for product diversification . " I am delighted that we can once again pay a record dividend ( which includes a part of the proceeds from the sale our comparison businesses ) to our shareholders , including our staff who continued to work hard to provide great service to our customers . I would also like to thank all of our customers for their continued trust in us . " 1 Group profit before tax , Earnings per share , Group turnover , Net revenue and Return on equity presented on a continuing operations basis 2 Alternative Performance Measures - refer to the end of the report for definition and explanation 3 Prior period interim dividend excludes the 20.7 pence special dividend , deferred from 2019 4 Group Turnover in H1 2020 includes the impact of the ' Stay at Home ' premium refund issued to UK motor insurance customers of £ 97 million . Refer to the Alternative Performance Measures section at the end of this report for further explanation 5 Solvency ratio excludes positive impact of capital held from Penguin Portals disposal to be returned to shareholders 1