annual report 2007 - the Admiral Group plc

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88 FINANCIAL STATEMENTS29. Related party transactionsThere were no related party transactions occurring during 2007 that require disclosure. Detailsrelating to the remuneration and shareholdings of key management personnel are set out in theremuneration report, which will be included in the statutory accounts referred to below. Keymanagement personnel are able to obtain discounted motor insurance at the same rates as allother Group staff, typically at a reduction of 15%.The Board considers that only the Board of Directors of Admiral Group plc are key managementpersonnel.
ADMIRAL GROUP plc 89Consolidated financial summaryThe 2007, 2006, 2005 and 2004 figures below are as stated in the financial statements precedingthis financial summary and issued previously. Only selected lines from the income statement andbalance sheet have been included.Figures for 2003 have not been restated under IFRS, although have been reclassified into theformats used in these financial statements.Income statement2007£m2006£mIFRS2005£m2004£mUKGAAP2003£mTotal motor premiums 631.3 566.6 533.6 470.4 371.6Net insurance premium revenue 142.2 145.0 139.5 107.5 79.3Other revenue 176.9 131.6 93.4 69.5 50.8Profit commission 20.5 19.9 14.7 21.7 1.4Investment and interest income 24.6 14.5 15.5 11.9 6.8Net revenue 364.2 311.0 263.1 210.6 138.3Financial statements 43 - 94Net insurance claims (99.8) (107.1) (100.5) (74.3) (43.5)Total expenses (82.0) (55.5) (40.9) (28.9) (34.4)Operating profit 182.4 148.4 121.7 107.4 60.4Balance sheet2007£mIFRS2006£m2005£m2004£mUKGAAP2003£mProperty, plant and equipment 7.7 7.5 4.6 3.3 5.8Intangible assets 69.1 66.8 66.5 66.5 62.4Financial assets 481.8 395.9 378.7 300.7 241.6Reinsurance assets 131.7 74.7 54.2 66.1 56.7Deferred income tax 1.6 - - - -Trade and other receivables 22.6 16.9 9.4 16.7 12.5Cash and cash equivalents 155.8 191.2 150.2 119.3 70.1Total assets 870.3 753.0 663.6 572.6 449.1Equity 237.6 219.1 181.4 144.6 108.1Insurance contracts 363.1 294.4 254.1 216.1 174.8Financial liabilities - - 22.0 33.1 35.4Provisions for other liabilitiesand charges - - - - 11.7Deferred income tax - 1.0 3.6 4.8 6.4Trade and other payables 239.6 215.1 182.9 164.3 104.0Current tax liabilities 30.0 23.4 19.6 9.7 8.7Total liabilities 870.3 753.0 663.6 572.6 449.1
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annual report 2007
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8 CHIEF EXECUTIVE’S STATEMENTChie
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ADMIRAL GROUP plc 1167%. Advertisin
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ADMIRAL GROUP plc 13Last point of n
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ADMIRAL GROUP plc 15UKGROUP£000EUR
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ADMIRAL GROUP plc 17Profit commissi
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ADMIRAL GROUP plc 19Investments and
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ADMIRAL GROUP plc 21Reconciliation
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ADMIRAL GROUP plc 23John Sussens ga
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ADMIRAL GROUP plc 25This is supplem
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ADMIRAL GROUP plc 27During 2007, th
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ADMIRAL GROUP plc 29The Committee h
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ADMIRAL GROUP plc 31· Approved Fre
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ADMIRAL GROUP plc 33The following t
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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 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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