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Admiral Group

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Admiral Group plc
Company typePublic limited company
LSE: ADM
FTSE 100 Component
IndustryInsurance
Founded1991
HeadquartersCardiff, Wales, UK
Key people
  • Annette Court (chair­person) Edit this on Wikidata
  • Milena Mondini de Focatiis (CEO) Edit this on Wikidata
RevenueDecrease £1,491.4 million (2022)[1]
Decrease £480.9 million (2022)[1]
Decrease £371.8 million (2022)[1]
Websiteadmiralgroup.co.uk

Admiral Group plc is a British financial services company headquartered in Cardiff, Wales. Listed on the London Stock Exchange, it is a constituent of the FTSE 100 Index, and markets the Admiral, Bell, Elephant, Diamond and Veygo vehicle insurance brands, as well as launching the price comparison services Confused.com and Compare.com.[2] The group employs more than 10,000 people across its brands.[3]

History

The business started as a division of the Brockbank Group in 1991.[2] In November 1999, Henry Engelhardt led a management buy-out of the Admiral Group from the Brockbank Group backed by Barclays Private Equity.[4] On 23 September 2004, Admiral floated on the London Stock Exchange.[4]

In September 2004, the Admiral Group plc announced the pricing of its initial public offering, at an offer price of 275 pence per existing ordinary share. Based on the offer price, the market capitalisation of Admiral at the commencement of dealings on the London Stock Exchange was £711 million.[5]

On 13 May 2015, it was announced that Engelhardt, would step down as CEO, and be replaced in 2016 by David Stevens, the COO.[2]

On 1 January 2021, David Stevens stepped down as CEO to be replaced by Milena Mondini de Focatiis.[6]

In April 2021, Admiral finalised the sale of interests, that included its Cardiff-based price comparison firm Confused.com, to RVU for proceeds of £508m.[7]

References

  1. ^ a b c "Preliminary Results 2022" (PDF). Admiral Group. Retrieved 8 March 2023.
  2. ^ a b c Treanor, Jill (13 May 2015). "Admiral insurance founder to step down after 25 years". The Guardian. London. Retrieved 16 July 2019.
  3. ^ "Our Story". Admiral jobs. Retrieved 22 October 2020.
  4. ^ a b "Admiral named 'Exit of the Year' by Acquisitions Monthly". Equistone. 19 January 2005.
  5. ^ "Admiral IPO begins successfully". Insurance Post. 23 September 2004. Retrieved 17 March 2012.
  6. ^ "Admiral Group PLC's new CEO Milena Mondini de Focatiis takes up the reigns". 11 December 2020. Retrieved 26 January 2021.
  7. ^ "Admiral concludes £508m sale of interests including its price comparison venture Confused.com". 30 April 2021. Retrieved 4 June 2021.
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