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Admiral Money for Workers

Employees at the Admiral car insurance group are set to receive a windfall averaging 37,000 each when the company floats on the stock market. The flotation, which makes a 10% stake in the company available, has led to this bonus because the organisation is part-owned by its staff.

Payments to individual workers will vary depending on the length of service of individual staff members. The share price values the 10 year-old company at some 711m. The company has a total of 1,500 staff based in Wales.

The Chief Executive of the company stands to make 140m but has stated that he has no plans to spend the money in a hurry. It is believed that the minimum amount being paid to an individual employee will still be in the region of some 10,000.