Admiral sells US auto business to J.C. Flowers

Admiral Group is selling its US auto insurance business, including Elephant Insurance Company and Elephant Insurance Services, to J.C. Flowers & Co for an undisclosed cash amount. The transaction, expected to close in Q4 2025 pending regulatory approval, is valued at approximately Elephant’s net asset value.

Based in Richmond, Virginia, Elephant Insurance provides budget-friendly car insurance.

“In Elephant, we have built a business with a great foundation, and selling the company to J.C. Flowers is the right decision to ensure its future success. J.C. Flowers and Elephant have a shared ambition for generating growth and value. This partnership will allow the business to continue to deliver the high-quality insurance products and services that US motorists need. This is a good outcome not only for Elephant and its employees, but also the Group and our shareholders. This transaction will enable us to focus on the opportunities we see for delivering long-term sustainable growth in our businesses in the UK and Mainland Europe.” – Costantino Moretti, Head of International Insurance, Admiral Group.