Motor insurer Admiral will appoint two new non-executive directors before it completes its initial public offering (IPO) scheduled for next month, said a report.

It said the appointment of Misys managing director John Sussens and former Friends Provident finance director Martin Jackson would be confirmed in the next few weeks.

Admiral is thought to be preparing to float one third of the company on the stock exchange, representing a £225m stake in the motor insurer.

The offering will value the company at approximately £680m and will include an option to sell an additional 15% of the company.

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