annual report 2007 - the Admiral Group plc
annual report 2007 - the Admiral Group plc
annual report 2007 - the Admiral Group plc
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20 FINANCIAL REVIEWReconciliation of turnover<strong>2007</strong>£0002006£000Insurance premium revenue 233,075 188,288Change in gross unearned premium provision 27,826 8,090<strong>Group</strong> premiums written 260,901 196,378Add: co-insurer’s share of premium written 370,350 370,230Total premiums written 631,251 566,608O<strong>the</strong>r revenue 176,878 131,621Net investment return 16,795 9,925Turnover 824,924 708,154Reconciliation of underwriting profit<strong>2007</strong>£0002006£000Net insurance premium revenue 142,236 144,955Net insurance claims (99,795) (107,145)Net expenses related to insurance contracts (21,734) (19,384)Investment return (see note 8) 16,795 9,925Underwriting profit 37,502 28,351
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