Admiral Group Sells U.S. Motor Insurance Operations to J.C. Flowers
Admiral Group plc, a UK-based insurance company, has completed the divestment of its U.S. motor insurance operations, including Elephant Insurance Co. and Elephant Insurance Services. J.C. Flowers & Co., a private equity firm, officially acquired these operations on December 31, 2025. While the sale announcement was initially made in April 2025, financial specifics have been kept confidential, foregrounding the focus on strategic alignment over immediate financial disclosure.
Elephant Insurance, headquartered in Richmond, Virginia, specializes in providing auto insurance alongside offerings in home, renters, motorcycle, and life insurance through direct online channels. Its coverage extends to several states, including Georgia, Illinois, Indiana, Maryland, Ohio, Tennessee, Texas, and Virginia, positioning the insurer as a diverse service provider catering to a broad demographic.
Strategic Growth and Expansion
Costantino Moretti, Admiral Group's head of International Insurance, emphasized the growth potential under J.C. Flowers & Co., marking a strategic opportunity for Elephant to advance its insurance solutions within the U.S. market. Moretti praised Elephant's contributions and underscored Admiral's intention to enhance its focus on potential expansions within the UK and European markets, aligning with regulatory compliance requirements and risk management objectives.
Eric Rahe, managing director and co-president of J.C. Flowers & Co., expressed optimism regarding Elephant Insurance's U.S. market prospects, committed to enhancing consumer access to more customized insurance solutions. Rahe highlighted the potential for leveraging tailored underwriting and claims processes to boost Elephant's market presence.
Elephant Insurance CEO, Alberto Schiavon, conveyed enthusiasm for the transition, maintaining Elephant's customer-centric approach. Schiavon stressed the importance of sustaining the company's distinctive culture while harnessing J.C. Flowers & Co.'s industry expertise in risk management and regulatory compliance, furthering the carrier's commitment to its clients.
The transaction engaged BofA Securities as the exclusive financial adviser and Sidley Austin LLP as legal adviser for Admiral Group. Concurrently, J.C. Flowers & Co. was advised by Keefe, Bruyette & Woods, A Stifel Company for financial matters, with Debevoise & Plimpton LLP providing legal guidance.