Holding(s) in Company

Admiral Group PLC
08 November 2007

Form TR-1 with annex. FSA Version 2.1 updated April 2007


For filings with the FSA include the annex

For filings with issuer exclude the annex


TR-1: Notifications of Major Interests in Shares


                                                              Admiral Group Plc

1. Identity of the issuer or the underlying issuer of
existing shares to which voting rights are attached:


2. Reason for notification (yes/no)                           Yes

An acquisition or disposal of voting rights                   No

An acquisition or disposal of financial instruments which may result in the acquisition
of shares already issued to which voting rights are attached
                                                              No

An event changing the breakdown of voting rights
                                                              N/A

Other (please specify):______________
                                                     Munchener Ruckversicherungs-Gesellschaft

3. Full name of person(s) subject to notification    Aktiengesellschaft in Munchen
obligation:
                                                     Munchener Ruckversicherungs-Gesellschaft

4. Full name of shareholder(s) (if different from    Aktiengesellschaft in Munchen
3):
                                                     7 November 2007

5. Date of transaction (and date on which the
threshold is crossed or reached if different):
                                                     by no later than 13 November 2007

6. Date on which issuer notified:
                                                     15 per cent threshold crossed

7. Threshold(s) that is/are crossed or reached:




8: Notified Details
A: Voting rights attached to shares


Class/type of Situation previous to the Resulting situation after the triggering transaction
shares        triggering transaction
              Number of    Number of    Number of    Number of voting rights  Percentage of voting
If possible   shares       voting       shares                                rights
use ISIN code              rights

                                                     Direct      Indirect     Direct       Indirect


GB00B02J6398  39.379.400   39.379.400        39.579.400   39.579.400                       15,07 %





B: Financial Instruments


Resulting situation after the triggering transaction


Type of financial    Expiration date      Exercise/ conversion No. of voting rights  Percentage of voting
instrument                                period/date          that may be acquired  rights
                                                               (if the instrument
                                                               exercised/converted)
N/A                  N/A                  N/A                  N/A                   N/A






Total (A+B)


Number of voting rights                              Percentage of voting rights
39.579.400                                           15,07 %





9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively
held, if applicable:
N/A


Proxy Voting:


10. Name of proxy holder:                            N/A


11. Number of voting rights proxy holder will cease  N/A
to hold:


12. Date on which proxy holder will cease to hold    N/A
voting rights:




13. Additional information:                            None


14 Contact name:                                       Dr. Jurgen Kammerlohr


15. Contact telephone name:                            [phone]





For notes on how to complete form TR-1 please see the FSA website.

Note: Annex should only be submitted to the FSA not the issuer


Annex: Notification of major interests in shares




A: Identity of the persons or legal entity subject to the notification obligation

Full name                                            Munchener Ruckversicherungs-Gesellschaft

(including legal form of legal entities)             Aktiengesellschaft in Munchen, a company
                                                     incorporated in Germany

Contact address                                      Koniginstrasse 107, 80802 Munchen Sitz der
                                                     Gesellschaft: Munchen Amtsgerict Munchen, HRB 42039
(registered office for legal entities)


Phone number & email                                 Dr. Jurgen Kammerlohr - [phone]


Other useful information                             [e-mail]

(at least legal representative for legal persons)




B: Identity of the notifier, if applicable
Full name                                            Emma Grimshaw

                                                     Clifford Chance LLP
Contact address                                      10 Upper Bank Street

                                                     E14 5JJ
Phone number & email                                 020 7006 1789

                                                     [e-mail]
Other useful information                             Lawyers



(e.g. functional relationship with the person or
legal entity subject to the notification obligation)


C: Additional information





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