London Stock Exchange celebrates the 20th listing anniversary of Admiral Group
Today, Admiral Group plc, the established financial services provider, celebrated the 20th anniversary of its listing on the London Stock Exchange with the Market Closing Ceremony.
On 2nd January 1993, Henry Engelhardt and David Stevens launched Admiral as a UK motor insurance provider and sold its first policy at 9:10 that day.
Since launch, Admiral Group has remained committed to creating an inclusive environment where colleagues can thrive. This commitment is underpinned by the Group’s ethos, ‘People who like what they do, do it better’, which results in better outcomes for customers and shareholders.
In September 2004, Admiral Group successfully listed on the London Stock Exchange with an initial share price of £2.75, a market capitalisation of £711 million, almost 1 million customers and 1,500 colleagues. After more than 3 years of floating, Admiral Group became an established FTSE 100 company. As of 18th September 2024, Admiral Group is valued at a market capitalisation of over £8.7bn. The Group now offers Motor, Household, Travel and Pet insurance, as well as personal lending products, and serves customers in five countries, namely the UK, Italy, France, Spain and the US. Headquartered in Cardiff, it is the only FTSE 100 company based in Wales and employs approximately 13,000 colleagues worldwide.
Throughout its history, the company has embraced change and opportunities to do things differently to deliver better outcomes for its customers. It was the first direct insurer in the UK with an internet presence and, recognising the opportunities that the internet offered, created the UK’s first insurance-specific aggregator website. It launched the first bundled motor insurance product in the UK, MultiCar, and is now supporting customers who want to make the transition to greener vehicles and is a market leader in electric vehicle insurance. The company has continuously leveraged its data capabilities and underwriting strength to achieve better outcomes for customers. To this end, Admiral maintained a strong average net promoter score across all its entities in 2024.
The Group’s colleagues, both past and present, have been key to its growth and success. To ensure that all colleagues benefit from the success of the business and remain focused on doing the right thing for customers, every year, colleagues are awarded company shares. A colleague continuously working at Admiral for the past 20 years would have received over £64,000 in company shares.
Since 1993, the Admiral Group story has been one of growth and constant evolution driven by a desire to do the right thing for its customers and colleagues. The Group's approach has paid dividends and delivered significant value to shareholders. In the first half of 2024, the Group delivered a pre-tax profit of £310 million and paid out 92% of post-tax profits in dividends to shareholders. This year, as Admiral Group celebrates 20 years on the London Stock Exchange, it has reached the 10 million customer milestone and is on a journey to help even more people look after their future.
“I’m so proud that we are able to celebrate 20 years as a listed business. This milestone and our continued growth would not have been possible without our colleagues’ hard work and dedication to ensuring that we can be there for our customers when they need us the most. We would like to thank our customers who have trusted us to look after theirs and their families’ future, and all our colleagues and shareholders for their continued support. We look forward to the next 20 years.”
Milena Mondini de Focatiis
CEO of Admiral Group
