Admiral staff’s £1,500 share bonus

The company, which is the second largest insurer in the UK with 2.9 million customers, reported pre-tax profits of £171.8m in the six months to June 30 as it grew the number of vehicles on its books by 11 per cent to 3.5 million. Admiral revealed an improving picture in the UK, with profits at the division up 9 per cent at £183.3m as premium revenues grew faster than claims and costs.

It has seen claims trends improve since the fourth quarter of 2011 in a welcome respite for the group after it was hit hard by a rising tide of bodily-injury claims.

The half-year figures mean that 6,500 staff will pocket another shares windfall, following £3,000 each after the 2011 results.

Cardiff-based Admiral – owner of Elephant, Bell and comparison website Confused.com – has resisted being dragged into a price war in an effort to protect its margins, pricing its premiums less competitively and slowing the rate at which it won new customers.