Insurance giant Admiral prepares for point of sale motor finance launch

The insurance giant Admiral Group is preparing to enter the UK's point of sale motor finance market and it will soon be looking for car dealer partners.

Although the group would reveal little except to confirm its intentions, AM understands that it seeks to support motor retailers in their physical and digital channels, including with getting their cars in front of potential online customers, and it wants to promise consumers an exceptional experience.

The new motor finance unit will operate as part of its Admiral Money division, AM understands.

It is described having "the freedom and innovation of a small start-up with the security of a large parent company". 

The Admiral Money division is headed by chief executive Scott Cargill (pictured), who joined the group in 2016 from Lloyds Banking Group where he had held roles including online car finance director and head of strategy and business development in consumer finance.