Admiral sees profit rise after lockdowns

Insurer Admiral saw its profits rise by 26% during 2021.

The business, which is Wales' only FTSE100 company, posted a pre-tax profit of £769m.

It said it benefitted from fewer cars on the road and more people working from home during the pandemic.

About 10,000 Admiral employees across the world will now receive free shares worth up to £3,600 each as part of the employee share programme.

Group chief executive Milena Mondini de Focatiis praised workers for their "commitment and compassion" during the pandemic.

"None of these results would be possible without my colleagues, I will never be able to thank them enough for their commitment and compassion in these tough and uncertain times," she said.

Admiral, which employs 7,000 staff in south Wales, has introduced hybrid working, allowing staff to split time between home and the office.