Admiral Group

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Admiral Group plc
Company type Public limited company
LSE :  ADM
FTSE 100 Component
Industry Insurance
Founded 1991
Headquarters Cardiff , Wales, UK
Key people
Revenue Increase ￡ 3,486.1 million (2023) [1]
Increase ￡462.9 million (2023) [1]
Increase ￡337.2 million (2023) [1]
Website admiralgroup .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 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 [ edit ]

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 [ edit ]

  1. ^ a b c "Preliminary Results 2023" . Admiral Group . Retrieved 7 March 2024 .
  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 .

External links [ edit ]

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