ADM Admiral Group Plc

 
TIDMADM 
 
Further  to  the  announcement  made  on 7 December 2010 regarding entering into 
exclusive  discussions, Admiral Group plc ("the Group") confirms that it has now 
sold  AdmiralDirekt, the Group's car insurance operation in Germany, to Itzehoer 
Versicherung.  The value of the gross assets disposed of is  GBP4.4m (EUR5.2m). 
 
The insurance contracts generated by AdmiralDirekt and underwritten by the Group 
in  2011 will be  fully reinsured  by Itzehoer.  It is  intended to transfer the 
insurance  contracts for 2011 and  prior years to  Itzehoer subject to Court and 
Regulatory approval. 
 
The  Group  remains  focused  on  continuing  the  profitable  growth  of its UK 
operations and on building profitable, growing, sustainable businesses in Spain, 
Italy, USA, and France. 
 
For further information, please contact: 
 
 Admiral                  029 2043 5528 
 Alistair Hargreaves 
 
 
 Financial Dynamics       020 7269 7114 
 Nick Henderson 
 
 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Admiral Group PLC via Thomson Reuters ONE 
 
[HUG#1477565] 
 

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