Shefi Ben-Hutta
Editor at Coverager
Admiral Group Balumba Qualitas Auto WiYou

Admiral is Going The Distance

Admiral Insurance, a company specializing in car insurance, which markets through brands such as Balumba, Qualitas Auto and WiYou, has announced that it will bank on Spain as a base of operations for the countries of the European Union, as a solution to continue operating after Brexit.

 

“We wanted to create a new corporate structure from which to centralize the underwriting and management of our policies in the countries of the EU and, in this sense, we opted for Spain was a good opportunity. We have people and infrastructure in both Madrid and Seville, so the new subsidiaries will not involve a significant cost for the Group, not to mention the advantage of the fact that we already know the Spanish market” – Head of Business Strategy in Admiral Insurance in Spain, Elisa de Blas.

 

Admiral Group, a company founded in Wales 25 years ago, will create an insurance company and an intermediary company in Spain to provide services for its customers in the EU after Brexit . Therefore, the new pan-European insurance company (Admiral Europe Insurance Company) will be based in Madrid, and the mediator (Admiral Intermediary Services) in Seville.

 

The Group currently has a market value of around £ 5.3 billion and has 5.7 million customers, belonging to the FTSE100 index of the London Stock Exchange. Its 2017 turnover was more than £ 2.9 billion and its profit before tax was £ 405 million. Of these figures, around € 300 million in premiums and 854,000 policies correspond to its three continental European markets (Spain, France and Italy). And specifically, just over € 70 million were generated in Spain.

 

Btw, this too is Admiral:

 

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