Admiral Group

Admiral Group plc is a 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 and Diamond vehicle insurance brands, as well as operating the price comparison services Confused.com and Compare.com.[2]

Admiral Group plc
Public limited company
Traded asLSE: ADM
FTSE 100 Component
ISINGB00B02J6398 
IndustryInsurance
Founded1991
FounderHenry Engelhardt 
HeadquartersCardiff, Wales, UK
Key people
Revenue£1,354.0 million (2018)[1]
£535.2 million (2018)[1]
£428.4 million (2018)[1]
Websitewww.admiralgroup.co.uk

History

In 1990, a managing agent at Lloyd's of London called Hayter Brockbank chose Henry Engelhardt, to head up a new operation and formulate its business plan.[3] In November 1999, Engelhardt led a management buy-out of 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, 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 the founder of Admiral, Henry Engelhardt, would step down as CEO, and be replaced in 2016 by David Stevens, the COO.[2]

References
  1. "Preliminary Results 2019" (PDF). Admiral Group. Retrieved 5 March 2020.
  2. Treanor, Jill (13 May 2015). "Admiral insurance founder to step down after 25 years". The Guardian. Retrieved 16 July 2019.
  3. "The Interview: Admiral boss Henry Engelhardt". FMWF. 19 October 2011. Archived from the original on 20 October 2011. Retrieved 17 March 2012.
  4. "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.

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