The province, through Nova Scotia Business Inc. (NSBI), today, April 24, announced it will support the company's growth with a $2,242,500 payroll rebate agreement. The five-year payroll rebate could see as many as 400 additional new jobs in Nova Scotia. That would make Admiral's workforce 800 people in Halifax.
"We're excited to see an employer like Admiral Insurance expand its business operations in Nova Scotia after considering us against competing jurisdictions," said Percy Paris, Minister of Economic and Rural Development and Tourism. "Through jobsHere, the plan to create jobs and grow our economy, we are committed to helping companies create high-value jobs for Nova Scotians."
Established in 1993, Admiral Insurance has close to 5,000 employees worldwide. This award-winning company has offices in Spain, United States, France, Italy, the U.K. and Nova Scotia. In partnership with three offices in Wales, the Nova Scotia office in Halifax supports more than 3,000,000 U.K. automobile insurance customers, dealing with direct sales and renewals inquiries, seven days a week.
"We have doubled our market share in the past four years, and we now insure about 11 per cent of all of the private motor vehicles on the road in the United Kingdom," said Alex MacDonald, vice- president, Admiral Insurance in Halifax. "As our market share has been growing, so has our need to increase our workforce internationally. Thanks to the support of NSBI, we were able to see some of that expansion happen here in Halifax."
The company has been in Halifax for five years, and recently moved its operations to the renovated Bay West development, (formerly the Bay at West End Mall) to accommodate its expansion. Admiral Insurance occupies the second level.
"We are proving to the international community that Nova Scotia can top our competitors in not only attracting multi-national companies like Admiral Insurance, but also seeing these companies choose Nova Scotia over other locations for additional growth," said Stephen Lund, president and CEO of Nova Scotia Business Inc.
The company shares its success with its employees. Each year, Admiral Insurance employees are given £3,000 ($4,801.42 Cdn) worth of shares, as part of their compensation. These shares can be redeemed after working with the company for three years.
Employees are also paid a cash bonus twice annually, based on the dividends that would be earned on those shares.
"Working with Admiral Insurance has been a great experience over the last five years," said Jimmy Connors, operations manager, Admiral Insurance."We have fresh fruit delivered to us each morning, Yoga on Thursdays and the company supports fun activities both inside and outside of work throughout the year.
This is no ordinary work environment; it is fun, challenging and rewarding. Admiral Insurance has given me both the support and the opportunity to build my career."
Admiral Insurance is an award-winning employer and has been recognized in 2012 as one of Atlantic Canada's Top 25 Employers, one of Nova Scotia's Top Employers and was recently named the fourth best workplace in Canada by the Great Place to Work Institute.