Admiral Profits Rise After Motor Injury Rules Change

Law360, London (February 7, 2020, 1:34 PM GMT) -- Motor insurer Admiral Group expects a full-year profit boost of up to 13% because of a change in the way compensation for the most severe personal injury claims is calculated.

The Gibraltar-registered insurance giant said in a trading statement on Friday that it expects full-year pretax profit for 2019 to be between £510 million ($660 million) and £540 million, an increase from profit of £479 million in 2018.

The company attributed the bounce to the “unusually positive development” of a change in the government’s so-called Ogden discount rate, which sets how much those suffering from a life-changing injury should get in a...

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