Over the past few years, the UK’s big insurers have constantly complained about the UK’s (in their mind) ‘compensation culture’ – how they have to pay out so much in accident injury compensation, how this is a ‘bad thing’ and how it means that motorists in particular will have to pay more for car and vehicle insurance.
If that is the case, then news that leading insurer Admiral saw a surge in profits last year has certainly raised a few eyebrows amongst solicitors and law firms who represent claimants to ensure they receive proper compensation. FTSE 100 listed Admiral said that in 2017, pre-tax profits rose 43% to £405.4m. This profits boost has also seen Cardiff-based Admiral’s 9,000+ staff benefit from free shares in the business, worth around £3,600 per employee. Admirals dividend to shareholders was also raised by 11%.
We await to see if any of these profits will result in lower insurance premiums…
To find out whether you have a valid personal injury claim, contact one of our friendly team for further advice on 0800 977 4852 or via email here.