From Yahoo Finance: 2025-04-23 07:42:00

Admiral Group will sell its US motor insurance division, including Elephant Insurance Company, to J.C. Flowers. The deal’s financial details were not disclosed, pending regulatory approval and set for completion in Q4 2025. Elephant Insurance, based in Virginia, offers car insurance with tools for financial protection selection. BofA Securities and Sidley Austin will advise Admiral Group, while J.C. Flowers has engaged Keefe, Bruyette & Woods and Debevoise & Plimpton.

Admiral Group’s international insurance head, Costantino Moretti, expressed confidence in the sale to J.C. Flowers, stating it will ensure Elephant’s future success and growth. J.C. Flowers managing director, Eric Rahe, emphasized the company’s investment in the insurance industry and plans to support Elephant Insurance’s growth. Last month, Admiral endorsed Flood Re’s Build Back Better scheme, continuing its support since 2016. The deal was reported by Life Insurance International.



Read more at Yahoo Finance: Admiral Group to divest US motor insurance portfolio to J.C. Flowers