Extension of UK Reinsurance Arrangements

Admiral Group has extended its existing UK Car Insurance reinsurance partnerships with Hannover Re, Mapfre Re, New Re and Swiss Re to at least the end of 2016.  There has been no material change to the cost or contractual terms of these arrangements.

The extended reinsurance arrangements are in addition to the current agreement with Munich Re (covering 40% of the UK business), which runs to at least the end of 2018. 

Share of UK Car Insurance underwriting:

 

2014

2015

2016

Admiral

25.00%

25.00%

25.00%

Munich Re

40.00%

40.00%

40.00%

New Re

13.25%

12.25%

12.25%

Swiss Re

9.00%

9.00%

9.00%

Hannover Re

8.75%

8.75%

8.75%

Mapfre Re

4.00%

5.00%

5.00%

Total

100.00%

100.00%

100.00%

Chief Executive Officer, Henry Engelhardt, said: “We are very pleased to announce extensions to our long-standing reinsurance arrangements.  These agreements show our partners’ continued confidence in our business and we look forward to working with them for many years to come.”

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