UK-registered insurance company Admiral Group has completed the sale of its US auto insurance business, including Elephant Insurance Company and Elephant Insurance Services (Elephant), to JC Flowers & Co., a global private investment firm focused on investing in the financial services industry.
Admiral originally announced the deal in April 2025. The transaction was concluded for an undisclosed amount, with cash consideration being approximately Elephant’s net asset value.
Costantino Moretti, head of international insurance at Admiral Group, said: “Elephant has a strong foundation and the sale of the company to JC Flowers will allow the company to grow the business and continue to provide the high-quality insurance products and services that American motorists demand.
“This partnership is a good outcome for the business, but it is sad to say goodbye to colleagues, many of whom have worked with us for a long time. On behalf of Admiral, I wish them all the best and thank them for their contribution to the group, which will now focus on the opportunities we see across our businesses in the UK and continental Europe.”
Headquartered in Richmond, Virginia, Elephant provides customers across the United States with simple and cost-effective auto insurance options.
The company’s platform is designed to be user-friendly, providing tools to help customers easily identify the ideal insurance coverage to suit their budget and requirements.
“With JC Flowers’ deep knowledge of the insurance industry, we believe Elephant Insurance is well-positioned to expand further in the United States,” said Eric Rahe, Managing Director and Co-President of JC Flowers. “Consumers are looking for customization and coverage options, and with Elephant Insurance, they are able to create the auto insurance coverage that best suits their individual circumstances. We look forward to working with the Elephant team on the next phase of growth.”
Elephant Insurance CEO Alberto Schiavon shared the team’s excitement about entering “the next chapter of growth.” He said: “As part of Admiral we are always customer focused, do the right thing and have a unique culture. We are delighted to enter into a partnership with JC Flowers which will allow us to retain these important qualities while benefiting from their wealth of expertise.”
