Interim Management Statement

Admiral Group PLC
29 April 2008




Admiral Group plc
29 April 2008
Interim Management Statement

Admiral Group plc ('Admiral' or 'the Group') today releases its first Interim
Management Statement, covering the period from 1 January to 28 April 2008.
Unless otherwise stated, figures quoted are for the quarter ended 31 March 2008.

Comment from Henry Engelhardt, Chief Executive

'I'm pleased to report that the Group has continued to make strong progress
during 2008 and is on track to deliver another record year, at least in line
with market consensus.

'Against a backdrop of little movement in prices in the UK motor market in the
first quarter, we continue to deliver strong underwriting and ancillary profit
growth, whilst making pleasing progress in our international businesses.'

Group highlights

  • Turnover* up 14% v Q1 2007 to £232m
  • Number of customers increased 17% year on year to 1.57m
  • UK ancillary contribution per vehicle increased to £70 (£69 in 2007)
  • Confused.com turnover up by 15%, although with substantially increased
    marketing spend and therefore materially lower margins
  • Stable return on funds invested of 5.6%

* Turnover is defined as total premiums written (including co-insurers' shares),
other revenue and investment return

UK Motor insurance

Admiral's UK business continues to grow healthily, with premium and vehicles
both achieving double-digit growth over the same period one year ago.  UK
insured vehicles grew 12% compared to the end of March 2007 (11% in calendar
2007).

Admiral's premium rates at the end of March 2008 were around 5% higher than
March 2007, although have moved little in 2008.

There has been little change in claims experience over the period and Admiral
expects to make further substantial reserve releases in 2008.

International

Balumba in Spain continues to grow the number of vehicles insured whilst seeing
significant improvements in its combined ratio.

The Group's Italian business remains on track to launch later this year, and
agreement has been reached with Munich Re, which will underwrite a 65% share of
premium income.

Further information


For further information please contact


Financial Dynamics                                   020 7269 7200
Rob Bailhache




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