Admiral reveals £33m Ogden hit in H1 2019
Provider posts modest turnover and profit rises.
Admiral has reported a 6% rise in group turnover and a 4% pre-tax profit increase for the six months to 30 June 2019.
Group turnover was £1.76bn (H1 2018: £1.66bn) and the business reported a pre-tax profit of £220.2m (H1 2018: £211.7m).
However, the combined operating ratio (COR) deteriorated to 92.3% in the first half of 2019, compared to 87.4% in the same period a year earlier.
Ogden
In its UK insurance division, pre-tax profit reached £254.7m (H1 2018: £247.0m), which the provider stated
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