Admiral awards shares worth £1,800 to 10,000 employees
Financial services organisation Admiral Group is giving its 10,000 employees shares worth up to £1,800, under its share incentive plan.
Since January 2020, the business has seen a continuous growth in revenue, and it is rewarding its employees with the shares that will be placed in Trust by the end of September 2020.
Since 2004, all employees that work at Admiral Group are given shares after one year of service. Employees receive dividends bi-annually and can sell their shares after three years.
Throughout the Covid-19 (Coronavirus) pandemic, no employees based in the UK have been furloughed, received a pay cut or have been made redundant. Admiral has looked at various initiatives to support its staff including buying office equipment for employees working from home.
David Stevens, group chief executive at Admiral Group, said: “Our response to that pandemic highlighted two key strengths – competent execution in the short term and sustainable values for the long term. We adapted quickly to the new circumstances, pirouetting from one working model to another and compressing years of learning and development into a matter of weeks through a phenomenal collective effort across the business at all levels.
“This year’s interims benefit again from our consistently competent underwriting and conservative reserving on past years, feeding into another strong set of results in the core business and beyond. Thank you to all our staff, shareholders and customers who have made this possible.”