Car insurance to loans group and Wales' only FTSE 100 company, Admiral, has seen its pre-tax profits fall by a more than a third. However it said it performed well in a challenging inflationary hit insurance market - with rising claim costs - as its continues its diversification strategy of being less reliant on its established UK car insurance business.
As a result of its financial performance in 2022, which saw pre-tax profits slide 39% on 2021 (£769m) to £469m and turnover up 5% to £3.68bn - as premiums rose - some 10,000 Admiral staff will receive free shares worth up to £3,600.
The shares as the highest level the company, which employs more than 7,000 in South Wales with its HQ in Cardiff, can award for its financial performance.
