’I would like to thank Admiral colleagues for their ongoing commitment,’ says chair
Admiral has announced that it will hand out share bonuses worth up to £3,600 to thousands of staff following a strong performance in 2024.
In a trading update published yesterday (6 March 2025), the insurer revealed it recorded group-wide profit before tax of £839.2m in the 12 months to 31 December 2024, a 90% uptick on the £442.8m figure that was generated in 2023.
Admiral also boosted its insurance revenue by 37% between December 2023 and December 2024 – with this growing from £3.49bn to £4.78bn.
Based on these results, over 13,000 employees will each receive free share awards worth up to £3,600 under the employee share schemes.
Mike Rogers, group chair at Admiral, said: “Admiral colleagues’ expertise and dedication to supporting customers, colleagues and local communities is remarkable.
“On behalf of the board, I would like to thank Admiral colleagues for their ongoing commitment and the management team for their excellent leadership and performance.
“While the external landscape remains uncertain, I believe that the group’s competitive advantages, disciplined approach and customer-first mindset will drive continued growth and shareholder value.”
’Remarkable year’
Admiral also revealed that is saw a 19% uptick in its UK insurance customers, which stood at 8.8 million for 2024, compared to 2023’s 7.4 million.
Group turnover, meanwhile, increased by 28% year-on-year to reach £6.15bn, versus 2023’s £4.81bn.
Admiral’s group chief executive, Milena Mondini de Focatiis, explained that “the main driver of our exceptional performance” in 2024 “was our UK motor business” – however, the insurer’s “UK household, Admiral Money and French and US motor businesses” also recorded “double digit profit”.
She continued: “2024 was a remarkable year. We delivered an excellent result with a 28% increase in turnover and 90% increase in profit as we welcomed an additional 1.4 million customers to the group.
“To remain one of the most competitive insurers for the largest number of people is a priority for us.
“We have emerged from several rather challenging years, so when we saw conditions improve, we were quick to respond. We were one of the first to reduce prices in response to easing inflation and cut rates the day after the favourable Ogden rate change announcement.
“We are excited to be building on the synergies within our businesses and products.”
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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