It has been five months since the market heard from Admiral.
So the City will be salivating at the prospect of pouring over the insurer’s half-year results on Wednesday.
The blue-chip firm, which offers car, motor, household, travel and pet insurance alongside financial and legal services, will be hoping to show considerable progress since its last update.
In March, Admiral’s results for 2022 revealed a sharp fall in profits as higher claims and an increase in the cost of servicing them affected the group.
Matt Britzman, an equity analyst at Hargreaves Lansdown, said: ‘It’s safe to say markets were unimpressed by Admiral’s full-year results back in March. Profits missed expectations as higher claims and an increase in the cost of servicing them weighed on performance.’
Next week analysts are expecting the insurer to shed light on pricing, customer numbers and accident frequency. They will also be watching for news on the dividend closely. It paid out 157p a share last year – far less than the 279p it distributed in 2021. Expectations are for a total dividend of 119p a share for the year ahead.
Other big name insurers to report include Legal & General whose boss Sir Nigel Wilson leaves later this year.
‘Sir Nigel steps down at the end of this year, but he will be looking to go out on a high after almost 12 years in charge,’ said Russ Mould at investment platform AJ Bell. Wilson has recently indicated he might be interested in a political career.
