£2million expansion by Admiral will create 119 new jobs

Admiral Group plc is expanding its Swansea operation under a £2million investment that will create 119 new jobs. Admiral is due to sign a 15 year lease on the new £7.5m Ellipse building at the gateway to SA1 where it will occupy 12,160 sq ft. It currently occupies the Cyprium building on SA1 Swansea Waterfront where 1,170 people are employed. 

The expansion, which has been supported by the Welsh Assembly Government’s Single Investment Fund, has been welcomed by Ieuan Wyn Jones, Minister for the Economy and Transport.

This is excellent news - Admiral Group is a highly successful Welsh based financial services business that currently employs 2,700 at its three locations in Cardiff, Swansea and Newport.

The Assembly Government has worked closely with Admiral Group since it opened its first centre in Cardiff and has supported its continued rapid growth. In the last year alone it has grown by over 350 staff and has seen the addition of a new office in Newport.

It is very much a flagship operation for Wales with a track record of profitability and I am delighted to announce that the Assembly Government is supporting this latest expansion which will create a significant number of new jobs.

Huw Llewellyn, Admiral Group Facilities Manager said:

" As a major employer in South Wales, and an investor in the Welsh economy, our expansion into the Ellipse building further reinforces our commitment to continual growth and to the city of Swansea."

" We are grateful for the support the Welsh Assembly Government has given us through this grant. We look forward to a continued successful relationship with them."

Ellipse was developed by the Welsh Investment Strategic Partnership, a unique partnership between the Assembly Government and Babcock and Brown Ltd, international specialised fund and asset managers, to provide high specification office accommodation in major regional centres in Wales. The remainder of the Ellipse is occupied by VOSA.

Admiral Group is the only Wales headquartered FTSE 100 listed company.  It principally sells private motor insurance together with ancillary products such as cover for breakdowns and legal expenses. It markets directly to the public in the UK primarily through its five core brands of Admiral, Elephant.co.uk, Diamond, Bell and Gladiator. Admiral Group also operates the highly successful comparison website, Confused.com 

These UK brands have been supplemented by newly launched overseas operations in Spain, Germany and Italy.

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18 February, 2008