Every Admiral worker to enjoy shares jackpot as departing boss Engelhardt decides to reward loyal workers
Departing Admiral chief executive Henry Engelhardt has handed his staff a huge pay boost by giving each staff member shares worth £3,600.
Engelhardt, who has a track record of ensuring a wide spread of his staff are rewarded with shares, will hand out the shares on an employee share scheme based on their results.
The bonuses come after pre-tax profits last year rose 6% to £377m. All 8,000 staff will enjoy the shares windfall.
Engelhardt leaves in May.
Meanwhile, Citi analyst Farooq Hanif said: “The UK motor book is doing really well. That, combined with clarity on Solvency II, is allowing them to pay a special dividend.”
He added: “The areas where Admiral needs to get it right are the international business and price comparison. The priority is to show the market that it has earnings growth beyond a good result in the UK.”
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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