Admiral Group is the UK's second largest motor insurer after what is now Direct Line Group. It controls a portfolio of different direct insurers including Admiral Insurance, Elephant, Diamond and Bell. There are also growing operations in the US (as Elephant or Compare.com) and continental Europe (including Balumba and Qualitas Auto in Spain and L'Olivier and LeLynx in France). However, the group is almost certainly best known for its UK-based price comparison website Confused.com, which acts as broker for a broad range of financial services including its own car insurance. Admiral's total gross premiums broke the £1.0bn level for the first time in 2009, and hit a record high in 2017 of just under £3.0bn. Net revenues after co-insurance contributions from partners were £1.1bn. Confused.com accounts for only a small part of that sum - just £87m in 2017 - in the form of commission on insurance policy sales. Its main value is as a shopfront for the group's own insurance services (as well as those of third party insurers), primarily in auto, though there is a small but growing contribution from household insurance and other financial services. By the end of 2017, Admiral covered almost 4m cars in the UK, and almost another 1.0m in its various international markets. The business was established in 1993 as a sideline for Hayter Brockbank, an insurance syndicate within Lloyds of London. Henry Engelhardt was the company's founding director and led the buyout of Admiral from Brockbank in 1999. He stepped down as CEO in 2016 to be succeeded by co-founder David Stevens. Annette Court - former CEO of main rival Direct Line - was appointed as chairman in 2017. Confused.com, launched in 2002, was the UK's first insurance aggregator. A team of managers broke away four years later to launch rival GoCompare. Subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.
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Capsule checked 13th April 2018
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