The UK insurer expects fewer claims due to reduced driving during the lockdown.
CEO David Stevens is to retire next year; successor announced.
Stevens will retire in 12 months; his successor has been with Admiral since 2007.
This is due to higher than expected reserve releases in UK motor insurance.
US-based insurtech Compare.com, an online car insurance comparison platform, has raised $35 million to help fuel its expansion and brand development.
UK motor insurer Admiral Group grew profits and turnover in the first half of 2018 as its core business delivered.
Changes in the way people use technology mean that insurers need to stress the relevance of their products to clients, according to a panel of experts at the Intelligent Automation in Insurance: unlocking the artificial intelligence revolution conference, taking place in London today.
UK insurer Admiral Group posted solid growth and a big increase in profits in 2017 as it also detailed some changes to its reinsurance programme.
UK-based motor insurer Admiral Group grew its operations in the first half of 2017, offsetting the impact of a lower Ogden personal injury discount rate.
Motor insurer Admiral included inaccurate premium amounts in renewal documents issued to some customers, breaching new Financial Conduct Authority (FCA) rules.