February 28, 2018 / 7:21 AM / 10 months ago

Admiral posts above-forecast 43 pct 2017 profit rise

LONDON, Feb 28 (Reuters) - British motor insurer Admiral posted an above-forecast 2017 pre-tax profit of 405 million pounds ($562.95 million), a rise of 43 percent from a year earlier helped by higher premiums and reserve releases, and announced a special dividend on Wednesday.

Pre-tax profit was forecast at 387 million pounds, according to analysts in a company-supplied poll.

The company proposed a final dividend of 58 pence per share, including a special dividend of 18.5 pence, and a total dividend of 114 per share, above a forecast 107.2 pence.

Admiral, which has a business in Spain, said it was exploring setting up an insurance company and broker in Spain as a result of Brexit. ($1 = 0.7194 pounds) (Reporting by Carolyn Cohn, editing by Maiya Keidan)

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