Admiral Group to sell its US motor business Elephant to J.C. Flowers

By Mia MacGregor

April 22 - (The Insurer) - London-listed Admiral Group has entered into an agreement to sell its U.S. motor insurance business, including Elephant Insurance Company and Elephant Insurance Services, to global private investment firm JC Flowers for an undisclosed cash consideration.

The sale price, subject to customary adjustments and transaction-related expenses, is approximately equal to Richmond, Virginia-based Elephant’s net asset value, according to Admiral Group.

The transaction is subject to regulatory approval and is expected to close in the fourth quarter of 2025.

“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,” said Costantino Moretti, head of international insurance, Admiral Group.