ADM Admiral Group Plc

 
TIDMADM 
 
Admiral Group plc 
28 April 2010 
Interim Management Statement 
 
Admiral Group plc ('Admiral' or 'the Group') today releases its Interim 
Management Statement covering the period 1 January to 28 April 2010.  Unless 
otherwise stated, figures quoted are for the quarter ended 31 March 2010, with 
comparatives reflecting the position compared against the same quarter in 2009. 
 
Comment from Henry Engelhardt, Chief Executive 
 
"I'm pleased to report that our business has continued to grow and prosper in 
the last 3 months. 
 
"Admiral's UK car insurance business had another great quarter.  We grew vehicle 
count by 19% year on year, reaching the 2 million milestone and we continued to 
increase premium rates through Q1. 
 
"Internationally our direct insurance operation in the US launched its first TV 
campaign and our price comparison businesses in France and Italy opened for 
business." 
 
Group highlights 
 
 · Group turnover* Q1 2010 increased by 28% to  GBP345 million 
 · Group vehicle count increased 20% to 2.22 million 
 · UK ancillary contribution per vehicle showed a modest improvement versus FY 
2009 
 · Turnover from non-UK car insurance increased by 31% to  GBP21 million 
 · Confused.com turnover decreased 5%, margins remain under pressure 
 · Annualised investment return on sterling funds of 0.9% (Q1 2009: 2.2%) 
 · No change in claims trends from last year 
 · Our financial position remains strong 
 · Performance to date puts us on track to meet analysts' consensus profit 
estimates for 2010 
 
* Turnover is defined as total premiums written (including co-insurers' shares) 
and other revenue 
 
 
 
Further information 
 
For further information please contact: 
 
Financial Dynamics 
Rob Bailhache                       0207 269 7200 
 
Admiral Group plc 
Alistair Hargreaves                 0292 043 5528 
 
 
[HUG#1408928] 
 

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