Core Viewpoint - Admiral Group plc has appointed Paola Bonomo as an Independent Non-Executive Director effective from 12 May 2025, bringing extensive experience in strategy, digital technology, and transformation to the board [1][7]. Group 1: Experience and Background - Paola Bonomo has 14 years of experience in strategy consulting with McKinsey, focusing on technology and telecommunications [2]. - She has held operational leadership roles in digital at companies such as eBay, Vodafone, and Facebook, where she was the Global Marketing Solutions Regional Director for Southern Europe [2]. - Bonomo has served as a Non-Executive Director at AXA Assicurazioni S.p.A. from 2014 until April 2025, participating in various committees [3]. Group 2: Current Roles and Contributions - Currently, she is a Non-Executive Director at FAAC S.p.A. and Infrastrutture Wireless Italiane S.p.A. (INWIT), and serves as Vice Chair of Italian Angels for Growth [4]. - Bonomo has held recent Non-Executive Director roles at Telecom Italia, Crystal Peak Acquisition, and Piquadro S.p.A., with significant contributions in various committees [5]. Group 3: Educational Background - Paola Bonomo holds an MBA from the Stanford Graduate School of Business and a degree in business administration from Università Commerciale Luigi Bocconi, Italy [6]. Group 4: Strategic Importance - Mike Rogers, Chair of the Admiral Board, emphasized Bonomo's knowledge of the international financial services sector and her experience in digital transformation as valuable assets for the Group's strategy [7]. - Bonomo expressed her honor in joining Admiral and highlighted the company's focus on data to understand customer needs, aiming for long-term sustainable growth in the UK and Mainland Europe [8]. Group 5: Committee Involvement - Effective from 12 May 2025, Bonomo will join the Admiral Group Remuneration Committee, which will also include Karen Green (Chair), Justine Roberts, and Mike Brierley [8].

Core Insights - Admiral Group reported a remarkable performance in 2024, achieving a 28% increase in turnover and a 90% increase in profit, welcoming an additional 1.4 million customers [3][24][60] - The Group's profit before tax reached £839.2 million, up from £442.8 million in 2023, with earnings per share increasing by 95% to 216.6 pence [1][54][60] - The final dividend proposed is 121.0 pence per share, representing an 86% increase from the previous year [10][56][57] Financial Performance - Group turnover for 2024 was £6.15 billion, compared to £4.81 billion in 2023, marking a 28% increase [1][48][60] - Insurance revenue rose to £4.78 billion, a 37% increase from £3.49 billion in 2023 [1][48] - The return on equity improved to 56%, up from 36% in 2023, reflecting significantly higher post-tax profits [1][55] Customer Growth - The total number of customers increased by 14% to 11.10 million, with UK insurance customers growing by 19% to 8.80 million [1][60][72] - The UK Motor business was the main driver of growth, contributing significantly to the overall profit increase [5][27] Strategic Developments - The Group has focused on enhancing its digital capabilities and leveraging new technologies to improve customer experience and operational efficiency [6][9][17] - Admiral's commitment to sustainability is evident through its Net Zero Transition Plan and its status as a leading insurer of electric vehicles in the UK [7][18][33] Market Position and Outlook - Despite a softening market and ongoing economic uncertainties, Admiral aims to maintain efficiency and agility to ensure long-term growth [8][10][36] - The Group's disciplined approach to pricing and claims management has positioned it well to navigate market challenges [4][59] Segment Performance - The UK Motor Insurance segment reported a profit before tax of £955 million, a 61% increase from 2023, driven by improved combined ratios and the impact of the Ogden discount rate change [67][76] - The UK Household insurance segment achieved a profit of £34 million, significantly up from £8 million in 2023, aided by favorable weather conditions and improved loss ratios [60][76] Employee Engagement - Over 13,000 employees will receive free share awards worth up to £3,600 under the employee share schemes, reflecting the Group's commitment to rewarding its workforce [2]