Admiral Share Price (ADM)

ADM - Admiral Investor Summary

Admiral Group is an insurance company offering its own insurance policies by phone and on the internet and offering a comparison of other firms' products online. The company is listed on the London Stock Exchange and is a constituent of the FTSE 100 share price index. The company began trading in 1993 although the business plan was developed from 1990 at the instigation of Hayter Brockbank, a Lloyd's of London managing agent. Expertise from Churchill Insurance was brought in, in the form of Henry Engelhardt, who is now Admiral's Chief Executive Officer. The company saw growth in the young direct sales market and its business plan was initially based on targeting customers who typically had to pay a higher cost for their insurance such as young drivers, those living in urban areas, and drivers of sports cars. The company became amongst the first direct sellers to have its own website after its launch in 1995. In 2000, the company launched elephant.co.uk, to offer online-only premiums.

The company's strategy now focuses on specialised brands for different markets. Bell Direct and Diamond were launched in 1997 being targeted at non-claims, full cash customers and female customers respectively. The following year the company also offered intermediary sales of insurance, via its commercial insurance brand Gladiator. The firm has seen enormous success recently with confused.com, which was among the first of the price comparison websites upon its launch in 2002. By 2004 the company had processed its millionth claim. In 2008 the company insured over one and a half million vehicles and employed over 2000 people and had a group turnover of £470 million.