Approved All Employee
Share Incentive Plan

As the Admiral Group announced fantastic full year results, including record profits and strong growth, all staff have again been awarded the maximum allowance of £1500 worth of shares under the Approved All Employee Share Incentive Plan.

So in an uncertain market, why is it that Admiral Group remains so profitable?

CEO Henry Engelhardt places the thanks firmly at the feet of every single Admiral Group employee. It has been a great year for the company so every member of staff will reap the benefits of their hard work. The number of customers has increased due to competitive prices and excellent customer service.

A number of changes to the share scheme were implemented this year, including the decision to award shares to every member of staff who is on the payroll at the date of allocation (6 March 2009), regardless of how long they have been with the company.

The number of shares an employee will get depends on the Group's performance and the maximum value of shares that the Group can award is defined by the Inland Revenue and is currently £3,000 per tax year.

Since the free share scheme was implemented employees now own just over 2% of the company.

Of course, staff also get the dividends along the way and will receive 26.5 per share payable on 27th May 2009. If employees started before 7th January 2005 that's a total of £445.20.

Of course, all positive news but where does the future of the business lie? In 2009 we will be launching our US operation, based in Virginia, and a price comparison business in Spain.

The business is constantly growing and will hopefully continue with its success in years to come.