Elephant Insurance employees to receive bonuses from CEO

Hundreds of employees of Henrico-based Elephant Insurance are receiving bonuses from the CEO of its parent company in advance of his retirement.

David Stevens, CEO and co-founder of Elephant Insurance’s parent company, Admiral Group, announced he will give a personal gift of about $13 million to more than 11,000 employees.

Stevens has spent 29 years with the company. He will gift each full-time employee a bonus of about $1300 in U.S. dollars and each part-time employee about $650. Admiral Group is based in the United Kingdom.

“Saying thank you to all the Admiral staff in this way is the right thing to do, and I’m so proud and fortunate to have worked with such a special group of people,” said Stevens, CEO and co-founder of Admiral. “Their hard work and dedication has allowed Admiral to grow from a start-up with one brand, zero customers and 57 members of staff, to a FTSE 100 company worth around £8 billion with multiple brands, millions of customers and over 11,000 staff worldwide.”

All Admiral employees will receive the bonus.

“Today and every day, we are so appreciative to work for a company under the Admiral umbrella,” said Alberto Schiavon, CEO of Elephant Insurance. “David Stevens’ generosity will impact all of Elephant’s more than 630 employees, most of whom are here in Richmond. We wish him well in this new stage of life and look forward to welcoming Admiral’s new CEO, Milena Mondini de Focatiis.”

For more information about Elephant Insurance, visit www.elephant.com.