ADM Admiral Group Plc

 
TIDMADM 
 
 
   Notice of regulatory capital position with effect from 1 January 2016 
 
   Admiral Group plc ('Admiral' or 'the Group') confirms that the level of 
Capital Add-On to be applied to the Solvency II Standard Formula has 
been agreed with the Prudential Regulation Authority ('PRA').  The 
Add-On is consistent with the level calculated by Admiral and takes 
effect from 1 January 2016. 
 
   After accounting for an appropriate margin above the Group's capital 
requirement, Admiral expects to hold a level of surplus capital as it 
enters Solvency II. 
 
   Admiral notes that there is an inevitable level of general uncertainty 
as the new regulatory regime comes into effect, and as the Group 
continues its transition to using a Partial Internal Model to calculate 
its capital requirement (an application in respect of which is currently 
expected to be made during 2017) which might impact the Group's capital 
requirements in the future. 
 
   Further details on the capital position and requirement, together with 
implications for returns to shareholders, will be provided with the 
Group's results for the financial year ending 31 December 2015 on 3 
March 2016. 
 
   For more information, please contact: 
 
   Karen Maguire                  Investors & Analysts +44 (0) 29 2060 2075 
 
   James Carnduff                Media +44 (0) 29 2043 4232 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Admiral Group PLC via Globenewswire 
 
   HUG#1971440 
 
 
  http://www.admiralgroup.co.uk 
 

(END) Dow Jones Newswires

December 07, 2015 04:00 ET (09:00 GMT)

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