Admiral Group PLC (ADM.LN), a motor insurance company, said Thursday it has now sold AdmiralDirekt, the Group's car insurance operation in Germany, to Itzehoer Versicherung.

MAIN FACTS:

-Value of the gross assets disposed of is GBP4.4 million.

-Insurance contracts generated by AdmiralDirekt and underwritten by the Group in 2011 will be fully reinsured by Itzehoer.

-Transfer of insurance contracts for 2011 and prior years to Itzehoer subject to Court and Regulatory approval.

-Shares of Admiral Group at 0802 GMT down 1 pence or 0.06% at 1564 pence.

-By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com
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