On the one hand it is a shame to see a successful Insurtech lose its independence after successfully meeting the needs of Fleet Managers and Operators whilst on the other it is a testament to the Founders' vision and beliefs.
Admiral will gain significantly on completion
Admiral Group today announces that it has reached an agreement to acquire Flock, a digital commercial fleet insurance provider with an innovative telemetry-based proposition. The transaction values the equity in Flock at £80m and is subject to regulatory approval. Admiral Pioneer, the Group’s venture building business, initially partnered with Flock to expand the Group’s focus on commercial motor customers in 2024. This acquisition aligns with the Group’s commitment to continuously evolve and futureproof its motor proposition and broaden its product offering, building on its existing strengths in data and technology, distribution, pricing and claims, customer service and risk management.
unknownx500
