Admiral Group PLC (ADML.L)
22 May 2015
LONDON, May 13 - Insurance industry veteran Henry Engelhardt, the chief executive of motor insurer Admiral Group Plc, is stepping down from his role in 2016, in the latest of a series of management reshuffles in Britain's insurance sector.
* Henry Engelhardt has decided to step down from his role as CEO in one year's time
* Shares down 2 pct in 0.2 pct higher FTSE 100 (Adds detail from statement, quote, shares)
* Admiral Group profit before tax of 357 million pounds for year to December 2014, down 4 percent.
(The following statement was released by the rating agency) LONDON, December 09 (Fitch) Fitch Ratings has affirmed the Insurer Financial Strength (IFS) ratings of Admiral Insurance (Gibraltar) Limited and UK-based Admiral Insurance Company Limited, the two main operating entities of Admiral Group plc (Admiral), at 'A+'. Fitch has also affirmed Admiral's Issuer Default Rating (IDR) at 'A-' and its subordinated notes at 'BBB-'. The Outlook on the IFS rating and IDR is Stable. KEY RATING DRIVE