Admiral Insurance boss gives staff £10,000,000 bonus after retiring

October 23, 2020
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Chief Executive David Stevens, 58, will hand over £1,000 to full time staff while part time workers will pocket £500 as a thank you for their hard work. More than 10,000 staff including 3,000 overseas workers are set to receive the bonus. ‘Their hard work and dedication has allowed Admiral to grow from a start-up to over 11,000 staff worldwide,’ said Mr Stevens. ‘Saying thank you to all Admiral staff in this way is the right thing to do and I’m so proud and fortunate to have worked with a such a special group of people. ‘And all of this while remaining a great place to work. ‘Thank you from myself and my wife to everyone at Admiral.’ Mr Stevens bows out from the top job almost 30 years after he co-founded the motor insurance giant – which also includes – with wife Heather in 1991. The Cardiff-based company was launched selling car insurance over the phone with just 57 staff. David Stevens bows out after starting the company with wife Heather almost 30 years ago (Picture: Admiral) Mr Stevens’ generous gift follows a similar gesture by former chief executive Henry Engelhardt who gave a £1,000 retirement thank you to full-time staff back in 2016 – equating to a payment of around £7 million. Both men have featured on the Sunday Times digital rich list, ranking the UK’s wealthiest entrepreneurs.


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