Admiral Group acquires Flock in £80m deal

Daniel Bevan - Editor

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FTSE-listed Admiral Group has agreed to acquire digital commercial fleet insurer Flock.

The transaction, announced today (12 February), values Flock’s equity at £80m and remains subject to regulatory approval. Completion is expected in the second quarter of 2026.

Admiral, based in Cardiff, said the purchase will be funded through existing resources and credit facilities, with an estimated impact on the Group’s solvency ratio of less than 10 points, leaving it comfortably above target levels.

The acquisition builds on an existing relationship between the two businesses.

Admiral Pioneer, the Group’s venture-building arm, first partnered with Flock in 2024 as part of a push to expand Admiral’s reach in the commercial motor market.

Bringing Flock fully in-house will give Admiral direct control of a telemetry-led fleet insurance platform built around real-time data and AI-driven risk modelling.

Flock uses proprietary AI models trained on hundreds of millions of miles of driving data to assess risk and adjust pricing, while providing live safety insights and recommendations to fleet operators.

The model is designed to reward safer driving behaviour over the life of a policy rather than relying solely on historical claims data.

Following completion, Flock will become Admiral’s core telemetry-based fleet insurance proposition.

Its technology platform and staff will be integrated into Admiral’s broader commercial motor offering.

Flock Chief Executive Ed Leon Klinger will join the leadership team at Admiral Pioneer as part of the transaction.

Emma Huntington, CEO of Admiral Pioneer, said: “Thirty years ago, Admiral started life as an entrepreneurial challenger, committed to using data and technology to deliver better prices and service for customers.

“Having partnered with Flock since 2024, we’ve seen first-hand how successfully they’ve applied a similar approach to the commercial motor insurance market.

“This acquisition will give us immediate access to a high-growth segment, proven technology and a scalable platform.

“We are looking forward to working with Ed, Antton and the team to deliver high-quality cover and service to both new and existing fleet customers, and safer roads.”

Ed Leon Klinger, CEO of Flock, said: “Our mission at Flock has always been to make the world quantifiably safer, with a belief that insurance should help reduce accidents, not just pay for claims.

“Over the last decade, we pioneered a dramatically different approach to the industry, using real-time data and AI to reward safer driving habits, and reduce fleet customers’ costs.

“I am incredibly proud of the Flock team for what they have achieved. This acquisition by Admiral is a momentous day for us.

“It brings together Admiral’s scale and expertise with our talented people and technology. I am so excited about what this transaction means for our customers, our employees, and the future of the sector.”

Antton Peña, Founder of Flock, added: “The fleet industry has evolved rapidly in recent years, driven by the adoption of new technology.

“We have built a product that responds directly to the changing needs of fleet operators, and we have seen strong demand as we have expanded our offering to support a wider range of fleet types.

“This acquisition by Admiral brings together our technology with Admiral’s best-in-class service, enabling a stronger and broader proposition for fleets and brokers.

“We are excited about the journey ahead alongside Admiral, our broker partners, and fleet customers.”