Admiral Group plc announces that Alastair Lyons, who has held the role of Non-executive Chairman since June 2000, has notified it that he does not intend to seek re-election as a director of the Admiral Group at the forthcoming Annual General Meeting on 26 April 2017.

Commenting on his retirement Alastair said: "With the change of CEO last year from Henry to David successfully completed, it is the right time for me also to handover. It has been fantastic to have been on the journey with Admiral since the management buy-out, a journey which I am confident will continue to deliver sustained success. The way the business has developed has been astonishing and a tribute to a great team that has created a culture that breeds innovation, the drive and ability to succeed, openness and transparency. I shall miss it, and them, greatly."

David Stevens, Admiral’s Chief Executive commented: "There are very few people who deserve as much credit for Admiral’s success over the last sixteen years as Alastair. A skilled and incredibly diligent chair, an articulate advocate and, above all, a clever ego-free deeply knowledgeable source of advice for myself and my predecessor, he’s been everything our shareholders, and indeed our staff and customers, could have wanted from a Chairman".

An announcement as to the Board’s choice of Alastair’s successor as Chairman of Admiral will be made once regulatory approvals have been obtained.