Admiral in Discussions About Sale of German Division

Admiral Group Plc, a U.K. insurer, said it’s in exclusive discussions with Itzehoer Versicherung about the sale of AdmiralDirekt, its German auto unit.

The company “remains focused on continuing the profitable growth of U.K. operations and on building profitable, growing, sustainable businesses in Spain, Italy, the U.S.A. and France,” the Cardiff, Wales-based insurer said today in a statement.

To contact the reporter on this story: Peter Branton at pbranton@bloomberg.net Jon Menon in London at jmenon1@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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