Insurance giant, Admiral Europe has been granted authorisation to operate in Spain by the Government’s Ministry of Economy and Business . Admiral Europe Insurance Company, S.A., belongs to the British Admiral insurance group. The company is to create an insurance company in Madrid (Admiral Europe) and an insurance broker in Seville (Admiral Intermediary Ser-vices). It is the first insurer in the United Kingdom to transfer its continental operations to Spain as a result of Brexit. “The choice of Spain is especially significant since, being the second country in market share, it shows the confidence of the British insurer in the Spanish market and in the supervisory body,” said a spokesman for the Spanish Government. The Admiral group is one of the leading car insurance companies in the United Kingdom, with total revenues of nearly 3,000 million pounds and has a presence in the Italian insurance markets (€170 million in premiums), Spain (€73 million in premiums), France (€66 million in premiums). It also has activity in the United States. Until now, Admiral ope-rated in Spain as a branch of the British parent company and commercialised auto-mobile insurance through the Qualitas Auto brand and the Rastreator and Balumba comparators. Admiral Europe Insurance Company, S.A. It intends to start operations in Spain as of January 1, 2019. Elisa de Blas, Head of Business Strategy in Admiral Seguros in Spain, said: “We wanted to create a new corporate structure from which to centralise the underwriting and manage-ment of our policies in the countries of the EU and, in this sense, we decided that opting for Spain was a good opportunity. We have people and infrastructure in both Madrid and Seville, so the new subsidiaries will not involve a significant cost for the Group, not to mention the advantage of the fact that we already know the Spanish market.”
ليست هناك تعليقات:
إرسال تعليق