annual report 2007 - the Admiral Group plc

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20 FINANCIAL REVIEWReconciliation of turnover2007£0002006£000Insurance premium revenue 233,075 188,288Change in gross unearned premium provision 27,826 8,090Group premiums written 260,901 196,378Add: co-insurer’s share of premium written 370,350 370,230Total premiums written 631,251 566,608Other revenue 176,878 131,621Net investment return 16,795 9,925Turnover 824,924 708,154Reconciliation of underwriting profit2007£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
ADMIRAL GROUP plc 21Reconciliation of loss ratios reported2007£0002006£000Net insurance claims 99,795 107,145Deduct: claims handling costs (3,471) (3,538)Adjusted net insurance claims 96,324 103,607Net premium revenue 142,236 144,955Loss ratio 67.7% 71.5%Financial Review 14 - 21Reconciliation of alternative operating ratios2007£0002006£000Profit before tax 182,098 147,342Income:Net insurance premium revenue 142,236 144,955Other revenue 176,878 131,621319,114 276,576Return on income 57% 53%
Page 1: annual report 2007
Page 8: 8 CHIEF EXECUTIVE’S STATEMENTChie
Page 11 and 12: ADMIRAL GROUP plc 1167%. Advertisin
Page 13 and 14: ADMIRAL GROUP plc 13Last point of n
Page 15 and 16: ADMIRAL GROUP plc 15UKGROUP£000EUR
Page 17 and 18: ADMIRAL GROUP plc 17Profit commissi
Page 19: ADMIRAL GROUP plc 19Investments and
Page 23 and 24: ADMIRAL GROUP plc 23John Sussens ga
Page 25 and 26: ADMIRAL GROUP plc 25This is supplem
Page 27 and 28: ADMIRAL GROUP plc 27During 2007, th
Page 29 and 30: ADMIRAL GROUP plc 29The Committee h
Page 31 and 32: ADMIRAL GROUP plc 31· Approved Fre
Page 33 and 34: ADMIRAL GROUP plc 33The following t
Page 35 and 36: ADMIRAL GROUP plc 35Awards made und
Page 37 and 38: ADMIRAL GROUP plc 37Corporate respo
Page 39 and 40: ADMIRAL GROUP plc 39Impact Area Usa
Page 41: ADMIRAL GROUP plc 41Manfred Aldag (
Page 44 and 45: 44 FINANCIAL STATEMENTSDirectors’
Page 46 and 47: 46 FINANCIAL STATEMENTSAppointments
Page 48 and 49: 48 FINANCIAL STATEMENTSIndependent
Page 50 and 51: 50 FINANCIAL STATEMENTSConsolidated
Page 52 and 53: 52 FINANCIAL STATEMENTSConsolidated
Page 54 and 55: 54 FINANCIAL STATEMENTSNotes to the
Page 56 and 57: 56 FINANCIAL STATEMENTSInvestment i
Page 58 and 59: 58 FINANCIAL STATEMENTSand expected
Page 60 and 61: 60 FINANCIAL STATEMENTS4. Segment r
Page 62 and 63: 62 FINANCIAL STATEMENTS5. Net insur
Page 64 and 65: 64 FINANCIAL STATEMENTSAnalysis of
Page 66 and 67: 66 FINANCIAL STATEMENTS10. Staff co
Page 68 and 69: 68 FINANCIAL STATEMENTSFactors affe
Page 70 and 71:
70 FINANCIAL STATEMENTS16. Property
Page 72 and 73:
72 FINANCIAL STATEMENTS18. Financia
Page 74 and 75:
74 FINANCIAL STATEMENTSLiquidity ri
Page 76 and 77:
76 FINANCIAL STATEMENTSiii) Effecti
Page 78 and 79:
78 FINANCIAL STATEMENTSD) Analysis
Page 80 and 81:
80 FINANCIAL STATEMENTSF) Reconcili
Page 82 and 83:
82 FINANCIAL STATEMENTS23. Obligati
Page 84 and 85:
84 FINANCIAL STATEMENTSStaff share
Page 86 and 87:
86 FINANCIAL STATEMENTS26. Analysis
Page 88 and 89:
88 FINANCIAL STATEMENTS29. Related
Page 90 and 91:
90 FINANCIAL STATEMENTSParent Compa
Page 92 and 93:
92 FINANCIAL STATEMENTSNotes to the
Page 94 and 95:
94 FINANCIAL STATEMENTS8. Reconcili
Page 96 and 97:
NotesADMIRAL GROUP plc
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