annual report 2007 - the Admiral Group plc

ADMIRAL GROUP plc 79Financial year ended 31 DecemberNet amounts:2003£0002004£0002005£0002006£0002007£000Net claims provision as originallyestimated 75,549 98,120 128,631 154,711 166,521Provision re-estimated as of:One year later 72,579 93,910 122,423 146,435 -Two years later 67,726 87,761 111,964 - -Three years later 63,954 82,004 - - -Four years later 61,620 - - - -Five years later - - - - -As re-estimated at31 December 2007 61,620 82,004 111,964 146,435 -Financial statements 43 - 94Net cumulative overprovision (13,929) (16,116) (16,667) (8,276) -E) Analysis of net claims provision releases:The following table analyses the impact of movements in prior year claims provisions, in termsof their net value, and their impact on the reported loss ratio. This data is presented on anunderwriting year basis.Underwriting year:2003£0002004£000Financial year ended 31 December2005£0002006£0002007£0002000 5,176 1,480 370 1,110 7402001 7,938 2,967 5,043 1,879 1,4832002 2,975 3,229 5,166 2,260 1,2922003 - 1,513 4,622 5,084 3,2352004 - - 2,076 7,948 7,5892005 - - - 2,623 12,5452006 - - - - 2,588Total net release 16,089 9,189 17,277 20,904 29,472Net premium revenue 79,327 107,501 139,454 144,955 142,236Release as % of net premium revenue 20.3% 8.5% 12.4% 14.4% 20.7%