- Admiral provides low cost car insurance
- It has gained market share and is the market leader in the UK
Jonathan Mills and Simon Denison-Smith, founders of investment boutique Metropolis Capital and co-managers of Alliance Trust’s (ATST) equity portfolio, explain why they invest in non-life insurance company Admiral (ADM).
“We invested in Admiral in 2012 when we became convinced that it would be a long-term winner in the UK car insurance market. Car insurance is not an industry typically found in the portfolios of quality investors as its customers are generally fickle and price-sensitive. This has been exacerbated by the growth of online price comparison sites.