Admiral targets commercial fleet growth with £80m acquisition of Flock

Admiral completed its acquisition of Flock, a digital commercial fleet insurer specializing in telematics, for £80 million. The deal funds through existing resources and credit facilities. Flock will become Admiral's telematics fleet insurance proposition, with its technology and team integrated into the wider fleet offering. A GlobalData survey found 41.1% of UK SMEs have a UBI/telematics motor policy.