Admiral Group plc in discussions to sell AdmiralDirekt
Admiral Group plc (“the Group”) is in discussions with Itzehoer Versicherung in respect of the sale of AdmiralDirekt, the Group’s start-up car insurance operation in Germany. Itzehoer Verischerung have expressed an interest in purchasing the Admiral Direkt operations and car insurance portfolio. The terms of any sale are yet to be finalised and it is not certain that a sale will take place. AdmiralDirekt is continuing business as usual.
The Group remains focused on continuing the profitable growth of UK operations and on building profitable, growing, sustainable businesses in Spain, Italy, USA, and France.