(Adds details, CEO comment, share move)
By Muvija M
Aug 11 (Reuters) - British motor insurer Admiral
reported a 76% surge in first-half earnings and announced a
special dividend on Wednesday after months of government
lockdowns to curb the COVID-19 pandemic drove down claims.
The company's pretax profit from continuing operations rose
to 482.2 million pounds ($666.6 million) during the first half
of 2021, the higher end of its previously-guided range of
450-500 million pounds.
Admiral set its dividend of 115 pence per share as the
company sweetened a half year dividend of 87.9 pence with a
special dividend of 27.1 pence, propelling its shares to new
highs of 35.36 pounds.
The stock was trading about 1.3% percent higher at 34.92
pounds by 0824 GMT.
The company also added 850,000 new customers in the period,
taking its overall customer numbers to 8.02 million.
Rival Direct Line also raised its interim dividend after
strong half-year results earlier this month.
However, Admiral boss Milena Mondini de Focatiis told
Reuters on a call that more insurance claims have been made
since pandemic restrictions were lifted.
($1 = 0.7234 pounds)
(Reporting by Muvija M in Bengaluru, editing by Kirstin Ridley)