Admiral reveals new CEO for US venture

Admiral reveals new CEO for US venture | Insurance Business America

Admiral reveals new CEO for US venture
Admiral Group subsidiary Elephant Insurance Services has named its new chief executive, who assumes the role after Henry Engelhardt – the former boss at the British parent company – served as interim CEO from March.

Italian native Alberto Schiavon becomes the fourth chief executive at the US firm since 2009, according to a Richmond Times-Dispatch report. He has been with Admiral for more than five years, most recently as head of sales at the UK motor insurance giant before moving to Virginia to become head of marketing and pricing at the subsidiary earlier this year.

“Outside the UK, Admiral’s International Insurance businesses grew combined turnover by 39% to £221.9 million (approximately $294 million) (H1 2016: £159.2 million, approximately $211 million),” reported the parent company in August.

Admiral added: “Customer numbers also grew strongly by 27% to 961,200 (30 June 2016: 757,900). In aggregate the businesses reduced losses to £10.1 million (around $13.3 million) from £12.9 million (around $17.1 million) mainly due to reduced losses in the Group’s US operation, Elephant Auto.”

Last month Elephant implemented pay increases for several positions, and is currently hiring.

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