Comparenow.com agreement with White Mountains Insurance Group and Mapfre USA
Admiral Group has completed a further sale of a minority equity stake in its US car insurance comparison website, Comparenow.com.
Effective from 18 December 2013, Admiral retains 67.8% ownership of Comparenow.com with White Mountains Insurance Group owning 21.1% and Mapfre USA owning 11.1%. Terms of the purchase are confidential, but Admiral can confirm that there is no material impact on the Group's 2013 full year results.
Comparenow.com launched in March 2013 and is one of the first car insurance comparison sites in the USA. Comparenow.com aims to replicate the success of the Group's other car insurance comparison businesses: Confused.com in the UK, Rastreator in Spain and LeLynx in France.