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Admiral Group PLC : Admiral Group PLC : Q1 2013 Interim Management Statement



 Admiral Group PLC : Admiral Group PLC : Q1 2013 Interim Management Statement

25 April 2013

Admiral Group's Interim Management Statement covers the period 1 January 2013
to 24 April 2013.  Unless otherwise stated, figures quoted are for the quarter
ended 31 March 2013, with comparatives reflecting the position against the
same quarter in 2012.

Comment from Henry Engelhardt, Chief Executive Officer

"Little has changed since the full-year results and our expectations for 2013
remain positive and unchanged.

"Year-on-year UK car insurance market premiums are down around 10%.  Not
surprisingly our turnover has also fallen, but, as we have said before, we
continue to be focussed on margin not volume and we believe this is not the
right time for us to grow our market share in the UK.  We are pleased to
report that our claims trends continue to be positive.   

"We are enjoying good growth outside the UK and are happy with the progress we
are making in all our international markets. 

"Our financial position remains strong and we continue to focus on delivering
returns for our shareholders through our capital efficient and cash generative
business model."

Group Highlights

  o Group vehicle count* increased 4% to 3.6 million (Q1 2012: 3.4 million)
  o UK car insurance vehicle count 3.0 million (Q1 2012: 3.0 million)
  o International car insurance vehicle count increased 30% to 458,000 (Q1
    2012: 353,000)
  o Group turnover decreased 6% to £551 million (Q1 2012: £586 million)
  o UK car insurance turnover decreased 9% to £470 million (Q1 2012: £518
    million)
  o International car insurance turnover increased 20% to £48 million (Q1
    2012: £40 million)

*Group vehicle count comprises UK car insurance vehicles, International car
insurance vehicles and Gladiator (UK van) vehicles

For further information, please contact:

Admiral
Louise O'Shea        +44 (0) 2920 434 384
Louisa Scadden     +44 (0) 2920 434 394

FTI Consulting
Paul Marriott           +44 (0) 207 269 7252
Ed Berry                  +44 (0) 207 269 7297

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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#1695866
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