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British motor insurer Admiral profits jump, sets special dividend

By Reuters

– British motor insurer Admiral reported a 76% surge in first-half earnings and announced a 27.1 pence special dividend on Wednesday after it paid out fewer claims during months of government lockdowns amid the COVID-19 pandemic.

The company’s pretax profit from continuing operations rose to 482.2 million pounds ($666.6 million) during the first half of 2021, coming at the higher end of its previously-guided range of 450-500 million pounds.

Admiral set its dividend of 115 pence per share – a half year dividend of 87.9 pence and a special dividend of 27.1 pence.

($1 = 0.7234 pounds)