There are probably two main features that mark out Admiral from other insurers:
- it specialises in motor insurance; and
- is currently the only publicly listed FTSE 100 company with headquarters in Wales.
It was formed in January 1993 by its founder and current Chief Executive Henry Engelhardt. The company is still based in Cardiff, but also has offices in Swansea and Newport in Wales and a branch in Halifax, Nova Scotia. Since its relatively recent origins, the company has grown very quickly and in 2013 had a turnover in excess of £2 billion and posted pre-tax profits of some £370 million.
The Company was floated on the London stock exchange in 2004 and presently markets 14 different brands in seven countries (UK, Canada, India, Spain, Italy, France and the USA).
Following its public listing, the continued growth of the company and the emerging prevalence of online insurance comparison sites, the Admiral Group continues to specialise in motor insurance but now also offers a much wider range of general insurance products under the Admiral brand.
In addition, however, the Group also manages a long list of other brands, many of which may be familiar to anyone who has searched in particular niches for motor insurance. These include:
- Elephant.co.uk; and
- Confused.com - set up as one of the first insurance comparison websites, the site offers quotations on a range of general insurance products.
Somewhat surprisingly for a company that has diversified into many other fields of general insurance, Admiral does not specifically market cover for landlords, instead offering relatively standard packages of home insurance (buildings and contents), principally for owner occupiers.
This may have left something of a gap in the company's portfolio of products, since standard home insurance is typically of fairly limited to landlords of buy to let property. Although an element of property owner's liability cover is included in such packages, for example, this will not fully meet a landlord's responsibilities for tenants and specialist cover is required.
Admiral landlord insurance
As already noted, Admiral does not market policies specifically designed to meet the needs of landlords.