Admiral Group agreed on 12 February to acquire Flock, a digital commercial fleet insurer, in a deal valuing its equity at £80m.
Why Admiral Group plc is buying Flock
Flock becomes Admiral's telemetry-based fleet insurance proposition, with its technology platform and team forming part of Admiral's fleet offering as the group broadens its motor business beyond private cars.
Deal terms and financing
The deal is funded from existing resources and credit facilities and was expected to reduce Admiral's solvency ratio by less than 10 points, leaving it well above target levels. Flock chief executive Ed Leon Klinger joins the leadership team of Admiral Pioneer.
Regulatory approvals and timing
The deal was subject to regulatory approval and expected to complete in the second quarter of 2026. Admiral completed the acquisition in early June 2026, according to Reinsurance News.
Market context
Admiral Pioneer, the group's venture-building arm, first partnered with Flock in 2024. Since completion Admiral has launched a haulage fleet insurance product.
