MORE than 8,000 staff at insurer Admiral have been handed a bumper payout after it secured record full-year profits.

The Cardiff-based insurer said it will give staff free shares worth a total of £3,600 each under an employee share scheme based on the results.

The pay boost comes after rising car insurance premiums helped group pre-tax profits rise 6 per cent to £377 million in 2015.

FTSE 100-listed Admiral grew UK car insurance customers by 5 per cent to 3.3m, with the average written premium for 2015 rising 4 per cent to £470, up from £453 in 2014.