Admiral Group has announced that its chief financial officer (CFO), Geraint Jones, has decided to retire from his role and transition to a part-time position within the group from July.

He has worked at the insurance firm for 24 years and been a part of its executive leadership team since 2014. Jones has played a role in the group’s transformation into a personal lines insurer and growing its market capitalisation from £3.7bn to £9.6bn.

Admiral has appointed Rachel Lewis as group CFO and she will join the group’s board as an executive director from 1 July, subject to regulatory approval.

Lewis has worked at Admiral for two decades and is currently CFO for its UK insurance business. She has extensive experience in financial strategy, disciplined cost management and driving growth.

Prior to her current role, Lewis was the group’s chief actuary and group chief finance director and responsible for the group’s implementation of IFRS17.

Jones stated: "Admiral is a special company and I feel really proud to have been part of the team that has shaped it into one of the UK's leading personal lines insurers and consumer finance providers. I’ve had the privilege of working for every Admiral CEO. While the business has changed a lot over the years, our culture and focus on doing the right thing for customers have remained constant.

"I will massively miss working with my colleagues every day but delighted that Rachel, who I have worked with for many years and knows the group well, will be taking over from me in the Summer. I look forward to being able to support my colleagues in July and beyond in a different capacity."

Lewis concluded: "I’m honoured to be stepping into the role of group CFO. I have grown with the business and seen first-hand the talent and ambition that defines our colleagues. I’m grateful for the counsel and support that Geraint has given me over the years and excited to step into a new role to support our strategic ambitions, delivering further growth through customer excellence."

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