Admiral Staff To Recieve Bonus

Staff at the car insurer Admiral will be receiving bonuses worth £1,500 after helping the group into record profits.

Roughly 3,000 workers will receive free shares worth £4.5million in October. The group, which also directs Diamond and elephant.co.uk, made £105million on the first and second quarter of this year, getting around 300,000 customers. The 5% increase was driven by the 18% leap in customers taking the total to 1.9 million. But the firm also jacked up premiums by an average of 5.5%. Boss Henry Engelhardt said: "Wow! Considering the economic climate and pathetic investment returns this is outstanding."

However, the firm's online business Confused.com suffered a £4.6m dip in profits to £11m.
Published on: 12:37 26-08-2009