Admiral Group has agreed a deal to sell its US motor insurance business to J.C. Flowers & Co. for an undisclosed sum.

J.C. Flowers is a global private investment firm dedicated to investing in the financial services industry.

The deal, which includes Admiral’s Elephant Insurance Company and Elephant Insurance Services, is for an undisclosed cash consideration representing approximately the net asset value of Elephant.

Admiral said that the transaction remains subject to regulatory approval and is expected to close in Q4 2025.

Head of international insurance at Admiral, Costantino Moretti, commented: “In Elephant, we have built a business with a great foundation, and selling the company to J.C. Flowers is the right decision to ensure its future success.

“J.C. Flowers and Elephant have a shared ambition for generating growth and value. This partnership will allow the business to continue to deliver the high-quality insurance products and services that US motorists need.

“This is a good outcome not only for Elephant and its employees, but also the group and our shareholders. This transaction will enable us to focus on the opportunities we see for delivering long-term sustainable growth in our businesses in the UK and Mainland Europe.”

---