Car insurance group Admiral to hand out share windfall worth £3m to its employees

Car insurance group Admiral will hand out a share windfall worth £3m to staff as it posted a 26% leap in half-year profits.

Around 2,300 staff at the group – which owns insurance brands Admiral, Elephant.co.uk and price comparison website Confused.com – are set to benefit from the share bonus.

Swansea and Cardiff-based Admiral made the announcement yesterday as it celebrated a “fine performance” in the first six months of the year, with better-than-expected pre-tax profits of £86.3m, compared to £68.7m in the same period last year.

The insurer said it expected premiums to rise in line with or slightly above claims inflation this year.

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