Henry Engelhardt, chief executive officer (CEO) at Admiral, and his wife, Diane Engelhardt, are personally gifting between £500 and £1,000 to each member of the organisation’s 8,300-strong global workforce.
Engelhardt, who is retiring in May, is offering the gift as a gesture of thanks for employees’ hard work during his 25-year tenure as CEO of the motor insurance firm.
All full-time staff with one year’s service will receive £1,000 and all other employees will receive £500.
The gift will total around £7 million.
Engelhardt (pictured) said: “Saying thank you to all the Admiral staff who work so hard every day to make Admiral great is the most important thing we can do.
“We are making this gift in recognition of the hard work and team spirit that has underpinned Admiral’s success as we’ve grown from a start-up with value of £0 to a FTSE 100 company with a value of £5 billion today.
“I am proud to have been part of the team of thousands who have created such a great business and great place to work.
“My wife and I just want to say a very sincere thank you to everyone at Admiral.”