British insurer Admiral’s first-half profit rises 9 pct

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Aug 15 (Reuters) – Admiral posted a 9 percent rise in first-half pre-tax profit on Wednesday, helped by demand for its insurance products.

The motor and home insurer, which has picked Madrid for its European Union base after Brexit, said pre-tax profit rose to 211 million pounds($268.20 million) from 193 million pounds a year earlier.

The company said Britain’s exit from the European Union brought additional risks to the company, particularly the possibility of a ‘no deal’ Brexit.

($1 = 0.7867 pounds)

Reporting by Noor Zainab Hussain in Bengaluru; Editing by
Bernard Orr

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