annual report 2007 - the Admiral Group plc

ADMIRAL GROUP plc 8727. Financial commitmentsThe Group was committed to total minimum obligations under operating leases on land andbuildings as follows:31 December200731 December2006Operating leases expiring: £000 £000Within one years - -Within two to five years 2,139 -Over five years 27,357 33,425Total commitments 29,496 33,425Operating lease payments represent rentals payable by the Group for its office properties.In addition, the Group had contracted to spend the following on property, plant and equipmentat the end of each period:31 December200731 December2006£000 £000Financial statements 43 - 94Expenditure contracted to 489 1,53928. Group subsidiary companiesThe Parent Company’s principal subsidiaries (all of which are 100% directly owned) are as follows:SubsidiaryCountry ofincorporation Class of shares held Principal activityEUI Limited England and Wales OrdinaryGeneral insuranceintermediaryAdmiral Insurance CompanyLimited England and Wales Ordinary Insurance CompanyAdmiral Insurance (Gibraltar)Limited Gibraltar Ordinary Insurance CompanyAdmiral Syndicate Limited England and Wales OrdinaryAdmiral SyndicateManagement Limited England and Wales OrdinaryLloyd’s corporatecapital vehicleLloyd’s managingagencyAble Insurance ServicesLimited England and Wales Ordinary IntermediaryInspop.com Limited England and Wales OrdinaryInternet insuranceintermediary