’This partnership is a good outcome for the business but it is sad to say goodbye to colleagues, many of whom we have worked with for a long time,’ says head of international insurance
Admiral has completed the sale of its US motor insurance business to private investment firm JC Flowers.
The US motor arm includes Elephant Insurance Company and Elephant Insurance Services and is headquartered in Richmond, Virginia.
Admiral entered into an agreement to sell the business on 22 April 2025, with the deal being complete on 31 December 2025.
Costantino Moretti, head of international insurance at Admiral, said: “Elephant Insurance has a great foundation and selling the company to JC Flowers will allow the business to grow and continue to deliver the high-quality insurance products and services that US motorists need.
“This partnership is a good outcome for the business but it is sad to say goodbye to colleagues, many of whom we have worked with for a long time.
”On behalf of Admiral, I would like to wish them all well and thank them for their contribution to the group which will now focus on the opportunities we see for our businesses in the UK and mainland Europe.”
’Next chapter’
Alberto Schiavon, chief executive at Elephant Insurance, said his firm was “excited to be entering this next chapter of growth and grateful to the support that Admiral has given us over the years”.
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He added: ”Having been a part of Admiral, we have a relentless focus on the customer, doing the right thing and a unique culture.
“We’re pleased that this partnership with JC Flowers will allow us to retain these important qualities whilst benefiting from their extensive expertise.”
Eric Rahe, managing director and co-president at JC Flowers, added: “Aided by JC Flowers’ deep understanding of the insurance industry, we believe Elephant Insurance is well positioned to further expand in the US.
“Consumers are looking for customisation and coverage options and with Elephant Insurance they have the ability to create auto coverage that best meets their personal situation.
”We look forward to working with the Elephant team on this next stage of development.”
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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