Admiral Group Plc Q4 2024 Earnings Conference Call: Key Insights
On March 6, 2025, at 5:00 AM ET, Admiral Group Plc (OTCPK: AMIGF) held its Q4 2024 earnings conference call. The call was hosted by Milena Mondini, the CEO, with participation from Geraint Jones, the CFO, Alistair Hargreaves, the CEO of UK Insurance, Scott Cargill, the CEO of Admiral Money, Costantino Moretti, the Head of International Insurance, and other executives. The call was attended by various analysts and investors, including Abid Hussain from Panmure Liberum, Faizan Lakhani from HSBC, Will Hardcastle from UBS, Thomas Bateman from Mediobanca, Andy Sinclair from Bank of America, Derald Goh from RBC, Rhea Shah from Deutsche Bank, Anthony Yang from Goldman Sachs, and Andreas van Embden from Peel Hunt, among others.
Business Performance
Admiral reported a strong finish to the year, with total revenues growing by 7% year-on-year to £6.2 billion. The growth was driven by a 13% increase in gross written premiums to £6.8 billion, as well as a 2% increase in average renewal prices.
Operational Highlights
The company’s core motor insurance business remained robust, with a combined ratio of 95.2%, down from 96.2% in the same period last year. Admiral Money, the group’s financial services division, reported a 14% increase in profits, driven by growth in lending and savings.
International Expansion
Costantino Moretti provided updates on the group’s international expansion, highlighting the successful launch of Admiral’s motor insurance business in Spain and the acquisition of a majority stake in a leading insurance company in Italy. Moretti expressed confidence in the group’s ability to grow its international footprint, with a focus on markets that offer attractive growth opportunities and regulatory environments that support innovation.
Impact on Individual Investors
The strong earnings report and positive outlook for the future led to a significant increase in Admiral’s share price, up by over 5% in early trading. Investors who held Admiral shares prior to the earnings call were rewarded with substantial gains, while those who missed the rally may be considering purchasing shares in anticipation of further growth.
Impact on the World
Admiral’s strong earnings report and international expansion plans are positive signs for the insurance industry as a whole. The company’s success in growing its motor insurance business in Spain and Italy could pave the way for other insurers to follow suit, leading to increased competition and innovation in these markets. Additionally, Admiral’s focus on digital transformation and customer-centric strategies is a trend that is likely to continue in the industry, as insurers seek to meet the changing needs of consumers and stay competitive.
Conclusion
Admiral Group Plc’s strong Q4 2024 earnings report and positive outlook for the future are a testament to the company’s resilience and ability to adapt to changing market conditions. The company’s focus on digital transformation, international expansion, and customer-centric strategies are trends that are likely to continue shaping the insurance industry in the years to come. For individual investors, Admiral’s strong performance and growth prospects make it an attractive investment opportunity, while for the world at large, the company’s success is a positive sign for the insurance industry as a whole.
- Admiral Group Plc reported strong Q4 2024 earnings, with revenues up 7% year-on-year to £6.2 billion.
- The company’s core motor insurance business reported a combined ratio of 95.2%, down from 96.2% in the same period last year.
- Admiral Money reported a 14% increase in profits, driven by growth in lending and savings.
- Costantino Moretti provided updates on the group’s international expansion, highlighting the successful launch of Admiral’s motor insurance business in Spain and the acquisition of a majority stake in a leading insurance company in Italy.
- Admiral’s strong earnings report and positive outlook for the future led to a significant increase in the company’s share price.
- The company’s focus on digital transformation, international expansion, and customer-centric strategies are trends that are likely to continue shaping the insurance industry.
