Admiral to cut 500 UK jobs as insurer plans £100m cost savings

Admiral has announced plans to cut around 500 jobs in the UK as part of a wider programme to save £100m, affecting about 5% of its UK insurance workforce.

The proposed job cuts relate specifically to Admiral's UK insurance business and form part of the company's efforts to reduce costs and simplify its operations.

The Cardiff-headquartered insurer said the changes are intended to make the business faster and more efficient while continuing to provide services to its customers.

Admiral's UK insurance business covers products including motor insurance, as well as other areas such as travel and pet insurance.

The company said the proposed redundancies are part of the £100m cost-saving programme announced earlier in the year.

Alistair Hargreaves, chief executive of Admiral Insurance UK, said the company recognised that the proposed changes would be difficult for affected employees.

Admiral said employees affected by the proposals would be offered enhanced redundancy payments, along with opportunities for redeployment where possible.

The company is also planning additional support for employees as they consider their future options following the proposed changes.

Reports on the plans indicate that it is not yet clear whether all of the reduction in staff numbers can be achieved through voluntary departures or whether compulsory redundancies will be required.

Admiral has continued to report growth across its wider business. Its latest half-year results showed that the group served more than 12 million customers and reported a profit before tax of £429.2m for the first six months of 2026.

The company's UK insurance business recorded £485m in profit before tax for the first half of 2026, compared with £584.4m during the same period in 2025.

Admiral said the latest changes are focused on improving efficiency within its UK insurance operations rather than being directly attributed to the adoption of artificial intelligence.

The Welsh Government has described the planned redundancies as disappointing and said it intends to meet with the company to understand the reasons behind the decision.

The government also said it would offer additional support to those affected by the proposed job losses.

Admiral is headquartered at Tŷ Admiral on David Street in Cardiff and remains one of Wales's major financial services employers.