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Admiral Promises Dividend Boost Over Discount Rate Change

Law360, London (March 7, 2019, 3:15 PM GMT) -- Motor insurer Admiral promised on Thursday to pay shareholders a special dividend ahead of an expected change to the way courts calculate compensation payments for people seriously injured in road accidents.

Admiral Group PLC said it will pay a final dividend of £0.66 ($0.87) per share at the end of May, with 11 pence of this coming as the result of an impending change to the so-called Ogden rate, a formula that courts use to calculate lump-sum compensation after catastrophic traffic crashes.

The British insurer made its promise as it announced record pre-tax profits of £479.3 million ($629 million) for 2018, an...

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