UK domiciled insurer Admiral Group has completed the sale of its US motor insurance business, including Elephant Insurance Company and Elephant Insurance Services (Elephant), to J.C. Flowers & Co., a global private investment firm dedicated to investing in the financial services industry.
Admiral initially announced the deal back in April 2025. The transaction was agreed for an undisclosed cash consideration, representing approximately the net asset value of Elephant.
Costantino Moretti, Head of International Insurance, Admiral Group, commented: “Elephant has a great foundation and selling the company to J.C. Flowers will allow the business to grow and continue to deliver the high-quality insurance products and services that US motorists need.
“This partnership is a good outcome for the business but it is sad to say goodbye to colleagues, many of whom we have worked with for a long time. On behalf of Admiral, I would like to wish them all well and thank them for their contribution to the Group which will now focus on the opportunities we see for our businesses in the UK and Mainland Europe.”
Elephant, based in Richmond, Virginia, provides simple and cost-effective car insurance options to customers across the United States.
The company’s platform is designed to be user-friendly, offering tools that help customers easily identify the ideal coverage to match their budget and requirements.
Eric Rahe, Managing Director and Co-President, J.C. Flowers said: “Aided by J.C. Flowers’ deep understanding of the insurance industry, we believe Elephant Insurance is well positioned to further expand in the US Consumers are looking for customization and coverage options, and with Elephant Insurance they have the ability to create auto coverage that best meets their personal situation. We look forward to working with the Elephant team on this next stage of development.”
Alberto Schiavon, CEO of Elephant Insurance, shared the team’s excitement to be entering “this next chapter of growth.” He stated: “Having been a part of Admiral, we have a relentless focus on the customer, doing the right thing and a unique culture. We’re pleased at this partnership with J.C. Flowers will allow us to retain these important qualities whilst benefitting from their extensive expertise.”
