Admiral buys commercial fleet insurer Flock in PS80 million deal
Admiral Group PLC on Thursday said it is buying commercial motor insurer Flock Ltd in a deal which values the latter’s equity at £80 million.
Cardiff-based Admiral described London-based Flock as ‘a digital commercial fleet insurance provider with an innovative telemetry-based proposition.’ Telemetry refers to the automatic transmission of data from remote sources, such as vehicles.
Flock offers benefits to commercial fleet owners, ‘demonstrating improved safety throughout the lifetime of a policy,’ Admiral said.
‘It now provides insurance for hundreds of connected vehicle fleets which receive personalised, real-time safety guidance and recommendations based on live driving patterns,’ the firm continued.
Admiral estimated that it has six million motorists among its insurance customers, and noted that it has already been offering discounts ‘for good driving practice.’
‘This acquisition aligns with the group’s commitment to continuously evolve and futureproof its motor proposition and broaden its product offering,’ Admiral added.
It plans to close the deal in the second quarter of 2026 via existing resources and credit facilities. Admiral sees the purchase reducing its solvency ratio by less than 10 points, and therefore sees its financial position remaining ‘well in excess of target levels.’
Flock Chief Executive Ed Klinger will join Admiral Pioneer’s management. He said the acquisition ‘brings together Admiral’s scale and expertise with our talented people and technology,’ and noted that ‘insurance should help reduce accidents, not just pay for claims.’
Admiral Chief Executive Emma Huntington commented: ‘Admiral started life as an entrepreneurial challenger...Having partnered with Flock since 2024, we’ve seen first-hand how successfully they’ve applied a similar approach to the commercial motor insurance market.
‘This acquisition will give us immediate access to a high-growth segment, proven technology and a scalable platform.’
Admiral shares rose 3.1% to 2,814.00 pence on Thursday afternoon in London.
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