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Shares I love: Admiral

Admiral’s ability to use its cost advantage to gain market share has played out well
Shares I love: Admiral
  • 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.

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