Admiral Group Balance Sheet

Financials in millions GBP. Fiscal year is January - December.

Millions GBP. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Investments in Debt Securities	3,708	3,335	2,803	2,348	2,575
Investments in Equity & Preferred Securities	-	-	24	27.5	19.3
Other Investments	57.9	91.7	116.7	101.4	85.3
Total Investments	5,257	4,863	3,862	3,411	3,743
Cash & Equivalents	301.1	268.4	314.2	297	372.7
Reinsurance Recoverable	1,081	988.6	1,192	1,015	2,176
Other Receivables	1,925	1,287	1,248	1,108	1,746
Deferred Policy Acquisition Cost	-	-	-	-	28.2
Property, Plant & Equipment	80.2	87.8	90.1	89.8	103.2
Goodwill	112.1	112.1	62.3	62.3	62.3
Other Intangible Assets	215.5	208.9	180.6	155.3	89.4
Restricted Cash	-	45.2	38.9	-	-
Other Current Assets	1.5	63.7	62.2	41.2	30.4
Long-Term Deferred Tax Assets	50.7	19.8	46.1	28.4	9.3
Total Assets	9,023	7,944	7,096	6,209	8,360
Accounts Payable	57.3	52.4	42.3	22.7	39.8
Accrued Expenses	71.5	60.7	40.2	78.2	189.2
Insurance & Annuity Liabilities	22	-	156.9	4,141	161.9
Unpaid Claims	4,190	3,673	3,452	-	3,045
Unearned Premiums	1,209	1,289	1,130	-	1,287
Reinsurance Payable	-	-	-	-	1,275
Current Portion of Long-Term Debt	7.7	8.2	-	-	-
Current Portion of Leases	-	8.6	13.7	8.3	10.5
Short-Term Debt	200.3	117.4	55	20	20
Current Income Taxes Payable	69.3	35	4.9	13.9	-
Long-Term Debt	1,612	1,197	1,075	919.1	650.9
Long-Term Leases	73.6	71	67.5	80.2	94.8
Other Long-Term Liabilities	42.1	34	42.5	38.2	112.4
Total Liabilities	7,579	6,574	6,103	5,322	6,951
Common Stock	0.3	0.3	0.3	0.3	0.3
Additional Paid-In Capital	13.1	13.1	13.1	13.1	13.1
Retained Earnings	1,459	1,383	1,019	922.6	1,349
Comprehensive Income & Other	-29.3	-26.7	-40.5	-50.2	44
Total Common Equity	1,443	1,370	991.8	885.8	1,406
Minority Interest	0.3	0.6	1	1.2	2.3
Shareholders' Equity	1,444	1,371	992.8	887	1,409
Total Liabilities & Equity	9,023	7,944	7,096	6,209	8,360
Filing Date Shares Outstanding	296.51	302.98	300.44	297.73	294.79
Total Common Shares Outstanding	296.51	302.98	300.44	297.73	294.79
Total Debt	1,894	1,402	1,211	1,028	776.2
Net Cash (Debt)	-1,592	-1,133	-896.8	-730.6	-403.5
Net Cash Per Share	-5.28	-3.70	-2.94	-2.42	-1.35
Book Value Per Share	4.87	4.52	3.30	2.98	4.77
Tangible Book Value	1,116	1,049	748.9	668.2	1,255
Tangible Book Value Per Share	3.76	3.46	2.49	2.24	4.26
Machinery	-	59.8	85.2	106	100.7
Leasehold Improvements	-	15.9	29.7	37.5	37

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.