Admiral pre-tax profits up 6% in 2015

UK motor specialist Admiral posted a 6 percent increase in
pre-tax profits to £377mn ($530mn) for 2015, as
better-than-expected reserve releases and an improved UK business
performance boosted the top line.
Admiral attributed the increase in group profit to the
performance of its UK car insurance business, but noted that the
result had been offset by the ongoing investment in US comparison
site Compare.com.
It attributed the £85mn of reserve releases, which equated
to 23 percent of A