LONDON, March 13, 2026, 19:15 GMT
Admiral Group climbed 1.9% to 3,280 pence on Friday, catching a boost after RBC Capital Markets upgraded the stock to “outperform” and bumped its target price to 3,560 pence. Shares held their ground while the FTSE 100 slipped 0.43%. MarketWatch
This call drew attention, coming barely a week after Admiral posted record 2025 earnings and laid out a more detailed capital-return roadmap. Starting from interim 2026, the insurer plans to divert surplus capital away from special dividends and prioritize share buybacks—repurchasing its own stock—instead.
RBC’s Ben Cohen said Admiral’s openness around its longer-term profit and earnings outlook stood out to him as a positive. According to Cohen, gains outside the UK motor segment were enough to balance out a weaker showing in the company’s main line. RBC lifted its price target to 3,560p—about 8.5% higher than where shares ended Friday.
Admiral posted a 16% jump in 2025 pre-tax profit from continuing operations, hitting 957.9 million pounds on insurance revenue of 4.98 billion pounds. Policy and insured item count — what the company calls “risks” — climbed 7% to 11.8 million. The post-dividend solvency ratio slipped to 193%. The board is planning a 90 pence final dividend, set for payout on June 5. MarketScreener
Chief Executive Milena Mondini de Focatiis described 2025 as “another remarkable year for Admiral” in the results statement, adding that the group heads into 2026 and beyond with “good momentum.” She highlighted better performance in home, travel and pet insurance, as well as Admiral Money and the European motor segment, noting a rebound in Italy. Admiral Group
Uncertainty runs through the broader sector. Last week, rival Aviva reported annual profit up 25% and brought buybacks back on the table, buoyed by rising premiums and its tie-up with Direct Line—now greenlit by regulators, cementing Aviva as Britain’s top home and motor insurer.
The outlook dims a bit from here. Matt Britzman, senior equity analyst at Hargreaves Lansdown, flagged 2026 as a softer year, expecting profit growth to flatten out as less profitable policies from 2025 start to show up. Claims inflation and sharper competition on UK motor pricing still loom as key risks.
Investors shrugged off the weaker 2026 outlook for now. Admiral jumped ahead, even as the London market stumbled—renewed oil-driven inflation jitters and fresh doubts over any quick Bank of England rate cuts sent the FTSE 100 down for a second week running, with Middle East tensions in the background.
