Insurance firm Admiral has reported a record profit for 2015, following its second-highest ever turnover.

The Welsh-based company posted profits of £377 million for the year, up 6% on 2014, as turnover hit £2.1 billion.

Admiral's car insurance division continued to drive the company's growth, with profit rising 11% and accounting for £1.7bn of its total turnover.

But its comparison division suffered a loss of £21.5m, following investment in US site Its brand saw profits fall 21% to £12.5m.

Admiral chief executive Henry Engelhardt, who steps down in May, said: "I would describe 2015 as: the year of the uncut diamond. When the year started many people thought it would turn out to be a lump of coal. But no, 2015 was no lumpy coal year.

"A lot of good things happened in 2015. The work we did on the UK business in terms of rate increases ahead of the market and the continued attention to operational detail amongst other things, all led to an excellent economic outcome."