What a windfall! (From Penarth Times)

What a windfall!

A PENARTH couple are set to scoop a £120,000 windfall following the flotation of their employers' Admiral insurance.

Lowri Thomas, 30, and Mike Jones, 29, will each pick up around £60,000 after Admiral was floated on the stock market last week.

Lowri, an operations manager who has been with Admiral for nine years, said; "We are in the process of having our house completely renovated, and we also plan to have a big holiday next year, something we have been unable to do for some years."

Mike Jones, a former Stanwell Comprehen-sive School pupil, who has also worked for the insurers for nine years, said: "We were ecstatic when we found out. It really has been a life changing experience. I'd like to go to Hawaii on holiday next year, and there might even be wedding bells."

Paul Matthews, 30, of Ludlow Street, a member of the teleport team, will pick up £5,700.

He said: "I'm over the moon and will be splashing out to improve my wardrobe."

Just over 1400 Admiral employees received shares in the company worth an average of £39,000.

In total, the Admiral workers will share a pot of £56 million. The company was founded 11 years ago by Chicago-born chief executive Henry Engelhardt.

Admiral is now one of the best-known car insurance companies in the UK.

Its brands include elephant.co.uk and the Diamond brand, which is aimed at women motorists.

Dealing in Admiral shares started last week at 275p per share. Admiral has been ranked seventh best workplace in the UK by the Financial Times.

Mr Engelhardt said: "We were nothing 11 years ago and now we are the biggest quoted company in Wales, and it is all down to the staff who have made it happen.

"It is not something that has just happened in the last few months, it was hard work."