David Stevens, the outgoing chief executive of Admiral, says the company is “going like a freight train”. It is, he says, an apt description: “Not racy, not glamorous — who needs a glamorous insurance company — but progressing ever onwards with a relentless, implacable forward momentum.”
Mr Stevens, who co-founded Admiral 27 years ago, said yesterday he wanted to retire in a year’s time. He will be the second big figure out the door — his partner in setting up the scrappy insurer, Henry Engelhardt, left in 2016.
So it will be a significant changing of the guard when Mr Stevens, 58, will be succeeded by Milena Mondini de Focatiis, 42, the group’s head of UK and European insurance, after 27 years building it from
