200 NEW ADMIRAL JOBS IN CAPITAL
INSURANCE giant Admiral is creating nearly 200 jobs in Cardiff.
They will be created as part of Admiral’s move into the personal lending market which will see the company offer new products including personal loans and car finance through an online platform.
Admiral already employs more than 6,000 people in Wales, including 3,339 in Cardiff, 1,923 in Swansea and 934 in Newport.
The 193 customer service and sales posts will be created following Admiral’s successful application for a grant of £668,500 from the Welsh Government’s Business Finance scheme to aid job creation.
Economy Secretary Ken Skates welcomed the news, saying: “Admiral is committed to expanding its operations in Wales. We appreciate its continued presence as a major employer here, and consider this funding a worthwhile investment.
“Welsh Government funding for this new range of products ensured the jobs are created and stay in Wales. I congratulate Admiral on its continued growth and job creation which is a great advertisement for service delivery in Wales.”
Admiral’s chief financial officer Geraint Jones added: “Wales is one of the fastest growing financial services centres in the UK and Admiral is delighted to be able to launch its new venture into the lending market here in our home city of Cardiff.”
Last month Admiral reported an increase in pre-tax profits of 2% to £193m for the first half of 2017.
The group, Wales’ only FTSE listed company, also reported a rise in turnover of 15% to £1.45bn for the six months to June 30.
The results meant that more than 9,000 staff were in line to receive £1,800 in free shares under the group’s employee share scheme.
The profit rise was helped by an increase in charges for drivers as the company sought to reduce the impact of a change in the way personal injury claims are calculated.
Earlier this year, Admiral said it was taking “pre-emptive” action to increase prices as it looked to recoup a £150m hit following a Government decision to cut the so-called Ogden discount rate calculation which governs payments given to victims of lifechanging injuries through medical negligence, car crashes and other incidents.