Elon Musk’s electronic vehicle firm saw sales topping £1.14bn last year in Britain
Tesla’s in-house insurance company could be worth more than Aviva, according to Morgan Stanley’s managing director Adam Jonas.
As reported in the Financial Times, Jonas gave a financial breakdown of Elon Musk’s $700bn (£506bn) electric vehicle company Tesla, noting that the insurance segment was $30 (£21.84) a share.
Tesla’s in-house insurance is only offered in California - the firm acts as a broker for State National Insurance Corporation, which is a subsidiary of insurance giant Markel.
The EV company’s shares outstanding are 990,015,158 - multiplying those by $30 would equate to $29.7bn (£21.6bn).
This could make Tesla’s insurance business the 21st most valuable insurance company in the world and, therefore, worth more than Aviva, which was valued at $22bn (£16bn) during July 2021.
In addition, Tesla would also be worth roughly two-thirds of AIG, a company with an asset base of $395bn (£287bn).
Tesla’s sales topped £1.14bn last year in Britain, according to the firm’s latest filings on Companies House.
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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