Admiral Group
Line
- Henry Engelhardt ( CEO)
- David Stevens ( COO)
The Admiral Group is a British insurance company. The company is based in the Welsh capital, Cardiff, operates as a main business car insurance for private clients and is the third largest auto insurers in Britain. The shares of the listed company Admiral Group plc is part of the FTSE 100
History
The end of 1990 Hayter Brockbank decided a managing agent to open up at Lloyd 's of London, a new source of income by a business is founded on direct sales of motor insurance to private customers. With the preparation of the business plan and the management of the new company, he entrusted Henry Engelhardt, who was then working at Churchill Insurance and today is the CEO of Admiral. End of June 1991, Engelhardt on a team of five persons, which drafted the business plan in cooperation with Lloyd 's of London. The business plan was implemented on 1 April 1992. The information provided in AdmiralDirekt.de According to the Admiral Group plc was founded in 1990, however, Henry Engelhardt and David Stevens. The two knew each other from the time of their joint MBA studies at the Institute of Economics, INSEAD, Fontainebleau, France. The real business started on 2 January 1993 at Cardiff with a staff of 50 employees.
In October 1995, the site of the Admiral was put on the web; so that was the first British Admiral car direct insurance company with an Internet presence. A second office was opened in June 1996 Admiral Swansea. In June 1997, two new specialty brands Bell Direct and Diamond were established. Bell Direct aimed then at customers with high -claims bonus and paying with credit card customers; the target group was later changed on customers without no-claims bonus. Target group of Diamond are female motorists. In April 1998, the Gladiator Commercial brand followed for commercial customers.
Under the leadership of CEO Henry Engelhardt was the Admiral Group, previously of the Brockbank Group, then the XL Capital Ltd. was in Bermuda, bought in November 1999, a management buy-out, which was accompanied by Barclays Private Equity. In August 2000, with another brand elephant.co.uk the first British Internet-only insurance for vehicle established. In March 2002, another brand was launched with confused.com, which offers a car insurance portal where customers receive after entering their personal characteristics to compare the offers from several providers.
In December 2002, Munich Reinsurance Company acquired approximately 18 % of the shares of the Admiral Group. In September 2004, the IPO of Admiral Group on the London Stock Exchange took place. It was the most capitalized company from Wales. In 2005, the brand was renamed Bell Direct Bell. As of 2006, the expansion of a European countries. In November 2006, was founded in Spain Balumba.es, in October 2007 AdmiralDirekt.de in Germany and in May 2008 in Italy Conte.it (based in Rome).
In December 2007, the share of the Company was included in the British FTSE 100. Thus, the Admiral Group was the second Welsh society that has ever been included in this index.
Operations
The business operations of Admiral Group stated in its relatively short history, a strong growth.
When the number of customers the Admiral Group reached 250,000 customers in May 1996, 500,000 customers in July 2001 and 750,000 customers in October 2003.
Correspondingly, the total turnover of the Group increased: In 1996 the mark of £ 100 million was achieved in 1999, the £ 200 million, 2001 £ 300m and 2003, sales exceeded for the first time the value of £ 400 million.
End of 2007, the Admiral Group 1.491 million insured vehicles (previous year: 1.285 million ). It achieved in fiscal 2007 total sales of 824.9 (previous year: 708.2 ) million pounds, of which 631.3 (previous year: 566.6 ) million pounds. Of total sales, 16.6 (previous year: 0.6 ) were received £ million abroad. The profit before tax is estimated at 182.1 (previous year: 147.3 ) million pounds. For earnings per share ( earnings per share) were reported in the Annual Report 48.6 (previous year: 39.8 ) pence.
The Spanish subsidiary Balumba.es achieved in fiscal year 2007, converted 46.6 million pounds total revenue and had 47,000 customers with the end of 2007.
The Company operates in Germany subsidiary, launched in October 2007 AdmiralDirekt.de based in Cologne, is a direct subsidiary of EUI Limited, which is controlled by the Admiral Group plc. She scored in the automotive business year from 1 January 2008 in Germany 9,000 new contracts with the equivalent of 1.7 million pounds premium income. On 1 January 2011 Itzehoer insurance has acquired the AdmiralDirekt.de GmbH as a 100% direct sales subsidiary, to track the evolution of their online sales.
The following subsidiaries are controlled by the Admiral Group plc to 100 %:
- EUI Limited (formerly Admiral Insurance Services Limited )
- Able Insurance Services Limited
- Admiral Insurance Company Limited
- Admiral Syndicate Management Limited
- Admiral Syndicate Limited
- Inspop.com Limited
- Admiral Insurance, headquartered in Gibraltar
Share
On 23 September 2004, the initial public offering of shares of the Admiral Group plc on the London Stock Exchange ( LSE ) was performed. The issue price was 275 pence, which the company was then rated on the stock market with 711 million pounds. The new issue was oversubscribed. Admiral was the highest rated Welsh companies on the exchange.
Awards, Other
In May 1999, Admiral received the title of Welsh Company of the Year of the Welsh Business Awards. The CEO Henry Engelhardt was awarded in June 2002 with the Welsh Business Achiever of the Year of the Welsh Business Awards. From 2003 to 2007, the Admiral Group appeared annually in the 50 Best Workplaces in the UK by the Financial Times list.
As an institution for the care of employee satisfaction, the company has a Ministry of Fun ( something like: " Fun Ministry " ), which organizes fun events for the staff inside and outside of work.
Swell
- History of the Admiral direct, direct website of the Admiral.
- History of the Admiral Group, website of the Admiral Group; and particularly the annual investor relations section (English).
- Entry to Yahoo Finance ( English)