Staff at insurers Admiral are set to receive a windfall of
about £37,000 as the company prepares to sell off a 10 per cent stake.
which also incorporates car insurers Diamond and Elephant.co.uk, is part owned
by its 1,500 employees.
size of each windfall will depend on the price of shares, seniority and length
of service. Some staff could receive hundreds of thousands of pounds.
decision to float comes five years after Admiral was sold to its management
team in a buyout bid backed by Barclays Private Equity.