Patons Insurance has partnered with Admiral Business to launch a new taxi insurance product in the United Kingdom, giving the South Wales-based insurer its first foothold in the country's private hire vehicle sector.
The arrangement, announced on 26 March, will see Admiral distribute the product through a limited panel of selected broker partners. Patons is among the first appointed.
The product is initially designed for owner-drivers and private-hire proprietors across England, Scotland and Wales. Coverage for purpose-built hackney vehicles and fleet owners is expected to follow.
It arrives as the UK's taxi and PHV fleet continues to grow. Department for Transport data shows 313,000 licensed taxi and private hire vehicles were registered in England as of April 2024, up 8.2% year on year and 70% since 2005.
Private hire vehicles accounted for nearly all of that expansion, climbing 10.5% in a single year to reach 256,600.
Admiral's full-year 2025 results, published in early March, outlined a strategy of "scaling selectively and profitably" into newer business lines. The group's UK operations recorded more than £1 billion in pre-tax profit during the year.
The push comes as private motor pricing softens. Admiral's leadership noted a 10% decline in market rates during 2025, making specialist commercial niches more appealing.
The insurer had already signalled broader commercial motor ambitions in January, when it announced a proposed £80 million acquisition of digital fleet insurtech Flock. That deal is expected to complete in the second quarter of 2026, subject to regulatory approvals.
Taken together, the taxi insurance launch and the Flock transaction position Admiral across both traditional broker-distributed and data-driven fleet segments.
Patons Insurance has operated in the taxi and PHV insurance market for more than 50 years. Managing director Darren Roberts said Admiral's scale in motor insurance brings added capability to the sector.
"Admiral is a major UK motor insurer, covering almost 20% of the private cars on our roads," Roberts said. "That depth of knowledge brings a wealth of expertise along with an extensive claims network of approved repair facilities across the country."
Roberts cited alignment on customer service as a deciding factor in the partnership. "It became clear from the outset that we would complement each other well," he said. "We are a family business and we maintain such values dear."
He added that Admiral Business's approach "sits hand-in-glove with our culture."
Patons Insurance works with a panel of taxi insurance underwriters across the UK. The addition of Admiral Business extends the range of products available through the broker.
