Admiral has reported a profit before tax of £68.7m for the six months to June 2006, an increase of 24% over the same period in 2005.
Admiral said its combined ratio was 87% (H1 2005: 86.5%). It also reported that confused.com, its automated car insurance shopper contributed a gross profit of £8.7m (H1 2005: £2.3m).
Henry Engelhardt, chief executive, said: "As was the case last year, we did this in an environment of declining market profitability. Despite difficult industry conditions, our business continues to grow and grow profitably."
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