Admiral Group plc (AMIGF) Q2 2025 Earnings Call Transcript

2025-08-14 08:43:36 ET

Admiral Group plc (AMIGF)

Q2 2025 Earnings Conference Call

August 14, 2025, 4:30 AM ET

Company Participants

Alistair Hargreaves - Chief Executive Officer of UK Insurance Business

Costantino Moretti - Head of International Insurance

Geraint Jones - CFO & Executive Director

Milena Mondini-de-Focatiis - Group CEO & Executive Director

Conference Call Participants

Andreas de Groot van Embden - Peel Hunt LLP

Benjamin Cohen - RBC Capital Markets

Carl Lofthagen - Joh. Berenberg, Gossler & Co. KG

Darius Satkauskas - Keefe, Bruyette, & Woods, Inc.

Ivan Bokhmat - Barclays Bank PLC

Shanti Kang - BofA Securities

Thomas Bateman - Mediobanca Banca di credito finanziario S.p.A.

Vash Gosalia - Goldman Sachs Group, Inc.

William Fraser Hardcastle - UBS Investment Bank

Youdish Chicooree - Bernstein Autonomous LLP

Presentation

Milena Mondini-de-Focatiis

Well, good morning, and welcome, everybody, to Admiral Group Half Year 2025 results. Once again, we delivered excellent financial performance, growth and strategic progress across the group. As usual, I will be sharing our main highlights. Geraint will provide us more detail on our financial performance. Alistair will talk to us about the excellent results in U.K. Insurance, and Costantino will bring to life for us our progress overseas.

So in the first 6 months of the year, we delivered a record profit of GBP 521 million. That is almost 70% increase year-on-year, while at the same time, adding 1 million customers to our book. That is a 10% increase versus last year. The main driver of this profit increase was U.K. Motor insurance that was also supported by positive claims trends. But it was nice to see material growing contribution coming from different parts of the business and in particular, U.K. Household and Admiral Money both doubled their profits, while at the same time growing and building on their strong track record....

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