Admiral staff share £1.6 million bonus
2,500 members of staff from car insurance specialist Admiral Group have shared a bonus pay out of £1.6 million.
The windfall is made up of dividends from the company’s approved share plan and a bonus* linked to the number of shares staff have in Admiral’s Discretionary Free Share Scheme (DFSS).
Victoria Griffiths, from Admiral’s Payroll department has worked for the company for over six years. She said, “The share schemes are amazing, we are being given something for free on top of what we are paid. They are a great benefit, I’ve been able to go on holiday three times this year and put my dividend payment aside to buy new clothes.”
Commenting on the pay out, Admiral Group CEO, Henry Engelhardt said, “2010 was a brilliant year for Admiral and it’s great to be able to share the success with our staff. Our share schemes are designed to reward loyalty to the company and to give everyone who works here a sense of ownership. Without the hard work of our staff in Wales and the rest of the world, Admiral could not be the success that it is.”
The majority of the bonus, around £1.3 million, is being shared between Admiral Group staff in its offices in Cardiff, Swansea and Newport, although some employees in its overseas offices in Spain, Italy, France, the US and India have also benefitted.