Admiral Group’s Chief Executive Officer David Stevens has announced his retirement from the company after nearly 30 years of service.
Stevens co-founded the insurer in 1991 before stepping into the CEO role in 2016.
Upon his retirement in 12 months’ time, Stevens will be replaced by Milena Mondini de Focatiis, the group’s current head of UK and european insurance.
She has been a member of the leadership team throughout her time at Admiral, has extensive experience of the group’s operations and has attended and actively contributed at board meetings as an observer since 2011.
Her previous roles included being CEO of ConTe.it, Admiral’s Italian insurance business which she founded in 2008.
“Few managers are lucky enough to be part of as fulfilling a corporate story as Admiral. Alongside my sense of good fortune and gratitude to those who made it possible, notably, Admiral’s founder Henry, and my many talented colleagues over the years, I feel a responsibility to do what’s best for the long-term future of Admiral,” said Stevens.
“That’s why I am looking to pass on stewardship of Admiral to a very talented next generation of Admiral management led by Milena Mondini. They are collectively more than capable, not just of sustaining, but also of improving Admiral’s competitive competence and potent culture.
“I am particularly glad that, in Milena, I have a successor who has the intelligence, the values, the track record and the clarity of vision to take on the role of Group CEO, and ensure that Admiral will continue to “go like a freight train” in the years to come.”
Commenting on her appointment, Milena Mondini de Focatiis said, “I am immensely proud and humbled to be given the opportunity to succeed David as CEO of a truly special company. During my 13 years with the Group I have worked closely with David, and previously Henry, and look forward to building on their legacy.
“Admiral has a unique culture with staff and customers at its core, which has underpinned its track-record of growth and success. The responsibility of ensuring this remains the case into the future is a challenge I am excited to take on.
“Thank you, David, for everything you’ve done for Admiral, and I look forward to continuing to work closely with you during the transition.”