Ageas has agreed to buy British insurance company Esure\u2019 from private equity firm Bain Capital\u2019 for around \u00a31.3 billion (\u20ac1.5 billion).<\/p>\n
Ageas, the insurer, said in a statement released on Monday that the deal would save at least \u00a3100 million (\u20ac115.8 million) a year before taxes.<\/p>\n
The firm added that the deal will expand its scope and help boost market revenue to \u00a33.3 billion (\u20ac3.8 billion) by 2028.<\/p>\n
The transaction is expected to be completed in the second half of this year, subject to regulatory approval.<\/p>\n
Ageas Group CEO Hans De Cuyper said on Monday that \u2019This transaction will allow us to deliver competitive value offerings to a wider customer profile through a multi-channel distribution model, making Ageas UK\u201c one of the top three individual insurance companies.<\/p>\n
David McMillan, CEO of Esure Group, said in the same statement: \u201cAgeasEssure \u2019's scale, financial strength and excellent broker relationshipsCombining alongside a common technology platform with \u2019's strong retail brands, market-leading data capabilities and strength in PCW\u2019s will increase our shared ability to invest in our customer offering and pave the way for new opportunities for growth.\u201d<\/p>\n
Esure, which also operates under the Sheilas\u2019 Wheels and First Alternative brands, was founded in 2000 and has been owned by Bain Capital\u2019e since 2018. In 2018, the group paid \u00a31.2 billion (\u20ac1.4 billion) to end the firm's public ownership.<\/p>\n
The deal also came after Ageas\u2019 tried to expand its footprint in the UK \u2019 by bidding for Direct Line. British auto insurer rejects Ageas\u2019's bid for two acquisitions; The latter added a value of \u00a33.2 billion (\u20ac3.7 billion) to the firm, noting that the offer was \u201ccazip\u201d for shareholders.<\/p>\n
Direct Line is currently being acquired by \u2019's largest insurance company Aviva for \u00a33.7 billion (\u20ac4.3 billion); The acquisition of Direct Line\u2019 was approved after the firm rejected its initial offer. Acquisition of the combined group's motor vehicle insurance market %More than 20\u2019 and home industry It means that \u2019ine has dominated.<\/p>\n
Esure said in its 2024 financial report that \u201c saw excellent progress and achieved a turnover of \u00a31.1 billion (\u20ac1.3 billion) compared to \u00a3973 million in 2023\u201d.<\/p>\n
The company generated a commercial profit of approximately \u00a3126.8 million (\u20ac146.7 million) last year from a loss of \u00a316.7 million in 2023\u2019.<\/p>\n
The deal between Esure and Ageas came after the UK government launched an investigation into the high cost of car insurance last year, but prices have been falling in recent months.<\/p>","protected":false},"excerpt":{"rendered":"
The deal will create \u2019's third-largest auto and home insurer.<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[634],"class_list":["post-2474","post","type-post","status-publish","format-standard","hentry","category-genel","tag-ageas-firmasi"],"_links":{"self":[{"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/posts\/2474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/comments?post=2474"}],"version-history":[{"count":0,"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/posts\/2474\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/media?parent=2474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/categories?post=2474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/tags?post=2474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}