Admiral Group plc 3 November 2010 Interim Management Statement

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(1)Admiral Group plc 3 November 2010 Interim Management Statement Admiral Group plc (‘Admiral’ or ‘the Group’) today releases its Interim Management Statement covering the period 1 July to 3 November 2010. Unless otherwise stated, figures quoted are for the quarter ended 30 September 2010, with comparatives reflecting the position compared against the same quarter in 2009. Comment from Henry Engelhardt, Chief Executive “I’m pleased to report that not much has changed since our 2010 interim results; the UK business remains the driving force of the Group’s success and we continue to develop our international businesses. “Our UK car insurance operation continues to benefit from positive market conditions; we grew vehicle count by 28% year-on-year to over 2.3 million whilst also increasing premium rates. “We have signed new quota share reinsurance deals for the UK for 2011 through to 2013. These arrangements maintain Admiral’s use of both short- and long-term reinsurance as part of its low risk, low capital approach to car insurance underwriting.” Group highlights Group turnover* Q3 2010 increased by over 50% v Q3 09 to £446 million Group vehicle count increased 28% v 30 September 2009 to 2.6 million UK ancillary contribution per vehicle remains stable v H1 10 No change in claims trends from H1 10 Confused.com turnover is also stable v H1 10, margins remain under pressure Turnover from non-UK car insurance increased by 87% v Q3 09 to £19.3 million Our financial position remains strong On track to meet analysts’ consensus profit estimates for 2010. * Turnover is defined as total premiums written (including co-insurers’ shares) and other revenue New reinsurance arrangements for UK car insurance Admiral is extending existing partnerships with Swiss Re, New Re and Hannover Re and is entering into new deals with Mapfre Re and XL Re for 2011 to 2013. These new reinsurance arrangements, including profit commission terms, are similar to our current arrangements with New Re and Hanover Re. The new deals alongside our existing arrangements, including our long-term co-insurance partnership with Munich Re, confirm the continuation of Admiral’s unique underwriting model through to at least the end of 2013.. WorldReginfo - 47b1e31a-c713-40b8-8de3-45e072e99ce8.        .

(2) Underwriting split of total written premiums: 2010. 2011. 2012. 2013. 27.5%. 27.5%. 25.0%. 25.0%. 0.0%. 0.0%. 0.0%. 8.75%. 45.0%. 40.0%. 40.0%. 40.0%. New Re. 10.0%. 11.25%. 13.25%. 13.25%. Hannover Re. 10.0%. 8.75%. 8.75%. 0.0%. Swiss Re. 7.5%. 7.5%. 7.5%. 7.5%. Mapfre Re. 0.0%. 2.5%. 3.0%. 3.0%. XL Re. 0.0%. 2.5%. 2.5%. 2.5%. Minimum Admiral share Flexible option* Munich Re coinsurance. * Flexible option: in 2013 Admiral can allocate 8.75% between New Re, Hannover Re and/or XL Re. Further information Admiral Group plc is holding an analyst presentation today, 3 November 2010. This will include discussion of the Q3 2010 Interim Management Statement and presentations by members of the senior management team. A copy of the presentation will be available on Admiral's corporate website, www.admiralgroup.co.uk today at 9am and a live webcast of the presentation will be broadcast from the corporate website at 11am.. Financial Dynamics Nick Henderson. 020 7269 7114. Admiral Group plc Alistair Hargreaves. 029 2043 5528. WorldReginfo - 47b1e31a-c713-40b8-8de3-45e072e99ce8. For further information please contact:.

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