Leadership Shake-Up: Admiral CFO Geraint Jones to Retire

The London-listed motor insurance specialist Admiral Group has confirmed that its long-standing Chief Financial Officer, Geraint Jones, intends to retire from his executive position in 2026.

After more than two decades with the Cardiff-based insurer, Geraint plans to transition into a part-time role with the business, starting from July 2026.

His tenure has been marked by a significant period of corporate expansion and digital transformation for the FTSE 100 constituent.

Since joining the executive leadership team and the board in 2014, Geraint has overseen a period where the market capitalisation of the firm rose from US$4.8bn to US$12.5bn.

This growth has been underpinned by the company's evolution into a diversified personal lines insurer that now serves 11 million customers globally.

Rachel Lewis, the current Chief Financial Officer for Admiral’s UK insurance arm, has been selected to take over the group-wide role following a competitive recruitment process.

Rachel brings 20 years of experience within the organisation and previously served as the Group’s Chief Actuary and Group Finance Director.

Her background includes leading the complex implementation of IFRS17, which is a critical accounting standard for the insurance industry that demands high levels of technical and actuarial precision.

The appointment remains subject to the usual regulatory approvals before she joins the board as an executive director on 1 July 2026.

“Admiral is a special company and I feel really proud to have been part of the team that has shaped it into one of the UK's leading personal lines insurers and consumer finance providers," Geraint says.

“I’ve had the privilege of working for every Admiral CEO. While the business has changed a lot over the years, our culture and focus on doing the right thing for customers have remained constant. 

“I will massively miss working with my colleagues every day but delighted that Rachel, who I have worked with for many years and knows the Group well, will be taking over from me in the Summer. 

“I look forward to being able to support my colleagues in July and beyond in a different capacity.”

How Admiral plans to adapt to changes in the market 

As Admiral expands its footprint in consumer finance and international markets, the role of the CFO remains pivotal in balancing growth with the sustainable loss ratios that investors expect.

Group CEO Milena Mondini di Focatiis also added sentiments as she looks ahead to how Rachel will lead the helm of the company’s financial operations. 

Group Chief Executive Officer, Milena Mondini di Focatiis, says: “Both the Group and I have benefitted greatly from Geraint’s wise counsel as CFO. 

“During his tenure we have almost tripled our customer base and he has helped ensure that we have grown in a sustainable way. 

“He is a valued colleague and friend to so many of us. On behalf of everyone at Admiral, I would like to thank him for his dedication to the Group, our customers, and our colleagues. 

“We have a strong track record of succession planning, and I am pleased that we can promote from within for such an important role. 

“Rachel has great commercial finance experience and a deep knowledge of our business which makes her the best person to lead our finance function.”

What’s next for Admiral’s financial strategy? 

Rachel’s experience in driving growth through disciplined management aligns with the group's focus on maintaining a competitive edge in a tech-driven market.

The strategic continuity provided by Rachel is expected to be a key asset for the group as it navigates a changing regulatory landscape.

The move ensures that Admiral retains the legacy of Geraint while integrating the fresh perspectives of a leader who has already been central to its UK operations.

“I’m honoured to be stepping into the role of Group CFO," says Rachel.

“I have grown with the business and seen first-hand the talent and ambition that defines our colleagues. 

“I’m grateful for the counsel and support that Geraint has given me over the years and excited to step into a new role to support our strategic ambitions, delivering further growth through customer excellence.”