Admiral Group shares £8 million bonus pot with staff

Admiral Group staff will split an £8 million bonus payout from the organisation’s approved share incentive plan (Sip).

The employee share scheme will distribute £8 million in shares to 5,700 staff, which works out to £1,500 worth of shares per employee.

The payout comes after the firm posted a pre-tax profit of £160 million for the first half of the year.

Henry Engelhardt, chief executive officer at Admiral Group, said: “We are pleased with the numbers for the first half of 2011.

“As a result, every member of staff will receive £1,500 of free shares in the group, worth over £8 million in total.”