ADMIRAL WINDFALL

ADMIRAL’S founder will pocket £39m after the insurer announced record profits.

Henry Engelhardt, 61, will rake in the dividend payment from his 10.5pc stake in the insurer, which he launched in 1993.

Admiral revealed its best ever annual profit of £476.2m, up 18pc on a year earlier. It is paying out a total annual dividend of 126p per share, up 11pc on 2017.

The increase was partly driven by legal changes reducing the compensation insurers will have to pay victims of car accidents. The 10,000 staff will each be handed £3,600 of shares under a bonus scheme.