March 5, 2020 / 7:27 AM / a month ago

Insurer Admiral's co-founder and CEO David Stevens to retire

March 5 (Reuters) - Car and home insurer Admiral Group Plc said on Thursday that its co-founder and chief executive officer, David Stevens, would retire in 12 months’ time.

The company said UK and European Insurance head Milena Mondini would replace Stevens.

Separately, the company reported a 10% rise in 2019 pretax profit to 522.6 million pounds ($673.2 million) and announced a one-time bonus of 500 pounds to employees, reflecting the company’s strong performance. ($1 = 0.78 pounds) (Reporting by Muvija M in Bengaluru; Editing by Maju Samuel)

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