Admiral Group Sells U.S. Motor Insurance Business to J.C. Flowers

On April 22, 2025, Admiral Group plc, based in Cardiff, announced it will sell its U.S. motor insurance branch, including Elephant Insurance Company, to the global private investment firm J.C. Flowers & Co. The sale, which is pending regulatory approval, is expected to close in the fourth quarter of 2025.

The agreement will allow Admiral to focus on its European operations while ensuring continued growth for Elephant. Costantino Moretti, who oversees international insurance at Admiral, expressed optimism about the deal, stating, “In Elephant, we have built a business with a great foundation, and selling the company to J.C. Flowers is the right decision.” With both companies sharing a vision for expanding Elephant's offerings, the partnership aims to strengthen services provided to U.S. motorists.

Headquartered in Richmond, Virginia, Elephant Insurance offers simplified and cost-effective auto insurance options for American consumers. With user-friendly tools that help clients determine their insurance needs and budgets, Elephant is well-regarded in the market.

This acquisition will also empower J.C. Flowers to leverage its extensive experience in the insurance sector. Eric Rahe, Managing Director at J.C. Flowers, conveyed confidence that the firm's background would create new opportunities for Elephant as it transitions into this new phase, saying, “We are excited to partner with the Elephant team.”

Elephant's CEO, Alberto Schiavon, welcomed the partnership, recognizing the added expertise from J.C. Flowers as crucial for their upcoming growth strategy while maintaining the company's unique culture.

Admiral Group, a founding entity established in 1993, has grown to be a substantial player on the FTSE 100, providing diverse offerings that include motor, household, travel, and pet insurance, along with personal loans. With international subsidiaries in multiple countries like Canada, France, Gibraltar, and more, the company is well-positioned in the global insurance market.

This transaction marks a significant moment for both Admiral Group and Elephant Insurance. By strategically aligning with J.C. Flowers, Admiral not only sheds a subsidiary but also allows it to refocus on markets in the UK and mainland Europe. As the deal progresses, stakeholders closely watch how Elephant Insurance evolves under J.C. Flowers' management while continuing to serve its customers effectively.

About Admiral Group

Admiral Group plc is a leading financial services company known for its motor and household insurance products. With an established presence in several countries, Admiral aims to provide comprehensive insurance solutions to a global audience.

About J.C. Flowers & Co.

Founded in 1998, J.C. Flowers is a prominent private investment firm with more than $18 billion invested across 67 companies globally. Focused on the financial services sector, the firm has a vast portfolio in banking, insurance, and other financial services. With a commitment to delivering value, J.C. Flowers strives to foster growth in its investments.