ADM Admiral Group Plc

 
TIDMADM 
 
Admiral Group plc 
Extension of Reinsurance Arrangements for UK Car Insurance 
3 February 2012 
 
Admiral Group ("Admiral") today announces that it is extending its existing UK 
Car Insurance reinsurance partnerships with Hannover Re, Mapfre Re, New Re and 
Swiss Re into 2014.  The cost of these arrangements to Admiral is unchanged. 
 
The extended arrangements are in addition to the current co-insurance agreement 
with Munich Re (covering 40% of the UK business), which runs until at least the 
end of 2016.  Admiral has committed to retain at least 25% of the UK 
underwriting for the duration of this agreement, whilst the allocation of the 
balance is at Admiral's discretion. 
 
Share of UK Car Insurance underwriting: 
 
                       2012         2013         2014 
 
 Admiral             25.00%       25.00%       25.00% 
 
 Munich Re           40.00%       40.00%       40.00% 
 
 New Re              13.25%       13.25%       13.25% 
 
 Hannover Re          8.75%        8.75%        8.75% 
 
 Swiss Re             7.50%        7.50%        9.00% 
 
 Mapfre Re            3.00%        3.00%        4.00% 
 
 XL Re                2.50%        2.50% 
 
 Total              100.00%      100.00%      100.00% 
 
Commenting on the developments, Chief Executive Officer, Henry Engelhardt, 
said:  "We are happy to announce these extensions to our underwriting 
arrangements into 2014.  Reinsurance has been at the core of Admiral's 
successful business model since 2000 and we look forward to continuing our 
mutually beneficial relationships with our partners for many years to come." 
 
 
For further information, please contact: 
 
Admiral 
Louise O'Shea        +44 (0) 2920 434 384 
 
FTI Consulting 
Tom Blackwell        +44 (0) 20 7269 7222 
Ed Berry                  +44 (0) 20 7269 7297 
 
 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Admiral Group PLC via Thomson Reuters ONE 
 
[HUG#1582292] 
 

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