Admiral Group (AMIGY) has a very high and sustainable dividend yield, while its valuation does not fully reflect its superior profitability, making it an interesting income play for long-term investors within the European financial sector.
Admiral is an insurance company based in the U.K., focused on the motor insurance market and highly exposed to its domestic market. Admiral was founded in 1993, and its growth history has been quite good, as the company has nowadays more than 5.7 million customers spread across 7 countries.
Admiral performed its IPO in 2004 and trades in