Admiral Group agrees to sell its U.S. motor business to JC Flowers

Group 1 - Admiral Group plc has agreed to sell its U.S. motor insurance business, including Elephant Insurance Company, to J.C. Flowers & Co for an undisclosed cash consideration, expected to close in Q4 2025 [1] - Elephant Insurance, headquartered in Richmond, Virginia, provides simple and affordable car insurance to U.S. customers, with user-friendly tools for finding suitable coverage [2] - The sale is seen as a strategic move for Admiral Group to focus on growth opportunities in the UK and Mainland Europe, while ensuring the future success of Elephant Insurance under J.C. Flowers [3] Group 2 - J.C. Flowers has a strong history of investing in the insurance sector and aims to leverage its experience to help Elephant Insurance grow as a standalone entity [4] - The partnership is expected to enhance Elephant Insurance's growth strategy and add value for customers while maintaining its unique culture [4] - Admiral Group is advised by BofA Securities and Sidley Austin LLP, while J.C. Flowers is advised by Keefe, Bruyette & Woods and Debevoise & Plimpton LLP in this transaction [6] Group 3 - Admiral Group is a leading FTSE 100 Financial Services company offering various insurance products and personal lending, with a presence in multiple countries [8] - J.C. Flowers is a prominent private investment firm focused on the financial services industry, having invested over $18 billion in 67 companies across 18 countries [9]