Admiral's profit falls 18% as UK motor cycle turns

Admiral Group’s first-half profit fell 18% year on year to £429.2 million, a drop from £521.0 million in H1 2025. The company also reported earnings per share down 18% to 109.0p and return on equity slipping 12 percentage points to 45%. Management said the weaker figure reflects a normalisation after an exceptionally strong comparison: H1 2025 benefited from underwriting years 2023 and 2024. That backdrop matters as claims costs rise. In Q1 2026, repair costs rose 3% quarter on quarter to £1.9 billion and average accidental damage claims increased 8% to £3,699. Admiral says it raised rates earlier than the market and is pricing for sustainable growth.