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UK car (and home/travel) insurer selling direct-to-consumer motor insurance, distributing heavily via price-comparison sites.
UK car (and home/travel) insurer selling direct-to-consumer motor insurance, distributing heavily via price-comparison sites.
Earns an underwriting profit when premiums outweigh claims and costs, plus fees from instalment payments and add-on products, with reinsurers taking a share of both premiums and claims. UK motor carries the group, and many UK customers are won through price-comparison sites.
In one line: A UK version of Progressive/GEICO, a direct motor insurer.
Moat: narrow (data, scale, brand). Deep pricing/claims data and scale in direct motor insurance support underwriting discipline versus smaller rivals.
Headquarters: Cardiff, UK · Founded: 1993 · Employees: 15,000
Size Admiral (ADM.L) is a United Kingdom Financials company (Property/Casualty Insurance) with a market value of $16.1B, the 39th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £3,934 on 6 Nov 2026.
Performance Over six months the shares gained 22.9%, against +17.3% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 0.1% over the last twelve months (peer median +2.8%); the operating margin is 17.2% (peer median 14.0%).
Valuation It trades at 8.04× book value against a peer median of 1.88× (2nd most expensive of 21).
Price implies The share price implies a return on equity of about 33.5%; Admiral delivers 45.6%, so the price asks less than the business earns today.
Credit Admiral has 1 bond outstanding ($334M), rated BBB by the agencies and trading like BBB- at a weighted spread of 165 bp.
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £5.58B | £5.57B | £5.05B | £3.91B | £3.34B |
| Revenue growth | — | +10% | +29% | +17% | — |
| Net income | £695M | £767M | £663M | £338M | £286M |
| Free cash flow | £366M | £652M | £1.13B | £530M | £223M |
| Capital expenditure | £90.2M | £74.3M | £144M | £75.9M | £98.6M |
| Total debt | n/a | £1.89B | £1.40B | £1.21B | £1.03B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Admiral ADM.L | $16.1B | +23% | 0% | 46% | 8.04× | 33.5% |
| Aviva AV..L | $29.5B | +18% | +86% | 7% | 2.46× | 23.8% |
| Progressive PGR | $132B | +17% | +8% | 33% | 3.82× | 15.8% |
| Sabre Insurance SBRE.L | $565M | +17% | -10% | 15% | 1.72× | 9.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ADM.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.6% | +10.0% | 6th lowest of 21 |
| 6-month return | +22.9% | +17.3% | 6th highest of 21 |
| Return on equity | 45.6% | 15.2% | highest of 21 |
| Price / book | 8.04× | 1.88× | 2nd most expensive of 21 |
| Trailing P/E | 17.3× | 12.6× | 6th most expensive of 20 |
| ROE the price implies | 33.5% | 9.5% | 2nd most demanding of 21 |
| ROE delivered | 45.6% | 14.7% | highest of 20 |
| Bond spread | 165 bp | 105 bp | widest of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Admiral ADM.L | United Kingdom | $16.1B | +23% | 0% | 46% | 8.04× | 33.5% | 45.6% |
| Everest EG | United States | $15.2B | +18% | -9% | 13% | 1.08× | 6.6% | 12.8% |
| SamsungF&MIns 000810.KS | South Korea | $17.2B | +31% | +5% | 8% | 0.71× | 4.8% | 8.1% |
| Assurant AIZ | United States | $15.1B | +29% | +9% | 44% | 2.60× | 14.6% | 44.2% |
| Insurance Australia IAG.AX | Australia | $14.4B | +17% | +9% | 14% | 2.87× | 13.1% | 14.0% |
| RenaissanceRe RNR | United States | $14.0B | +16% | -21% | 13% | 1.34× | 7.5% | 13.4% |
| American Financial AFG | United States | $12.8B | +18% | +3% | 18% | 2.67× | 15.1% | n/a |
| Erie Indemnity ERIE | United States | $12.7B | +26% | +2% | 24% | 4.98× | 19.7% | 23.7% |
| Loews L | United States | $22.2B | +5% | +3% | 8% | 1.22× | 8.3% | 8.1% |
| Markel MKL | United States | $23.7B | +7% | -1% | 10% | 1.28× | 9.2% | 9.6% |
| QBE Insurance QBE.AX | Australia | $27.7B | +19% | +3% | 19% | 2.37× | 11.3% | 19.1% |
| Sampo SAMPO.HE | Finland | $29.1B | +10% | +2% | 16% | 3.60× | 11.3% | 16.5% |
| Hanover Insurance THG | United States | $8.35B | +28% | +5% | 22% | 2.43× | 11.2% | 21.8% |
| Hartford (The) HIG | United States | $35.8B | +1% | +4% | 23% | 1.94× | 11.3% | 22.7% |
| Scor SCR.PA | France | $6.96B | +10% | -4% | 19% | 1.44× | 9.8% | 18.8% |
| Definity Financial DFY.TO | Canada | $6.47B | +14% | +35% | 12% | 2.13× | 7.6% | 11.7% |
| Hagerty HGTY | United States | $6.18B | +79% | +1% | 5% | 8.42× | 53.7% | 4.6% |
| Fairfax Financial FFH.TO | Canada | $42.7B | +21% | -1% | 16% | 1.40× | 7.0% | 15.8% |
| Selective Insurance SIGI | United States | $5.87B | +17% | +4% | 15% | 1.81× | 9.1% | 14.7% |
| MGIC Investment MTG | United States | $5.87B | +7% | -2% | 14% | 1.18× | 8.9% | 13.9% |
| PICC Property & Casualty 2328.HK | Hong Kong | $48.9B | +16% | +9% | 17% | 1.09× | 5.8% | 16.5% |
Admiral has 1 bond outstanding with $334M face value. The agencies rate it BBB; its bonds trade like BBB-. Weighted yield 6.58%, a spread of 165 bp over government bonds.