• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Stock

Ageas to acquire Esure in £1.3bn deal, targets doubling UK business and £100m in savings

by April 14, 2025
by April 14, 2025

Ageas has agreed to acquire British insurer Esure for £1.3 billion, in a move that will make the Belgian company the third-largest provider of home and motor insurance in the UK.

The transaction, worth precisely £1.295 billion, will see Ageas purchase Esure from private equity owner Bain Capital, which has controlled the business since 2018.

The deal marks a significant step forward for Ageas’s ambitions to expand its footprint in the UK insurance market. Shares in Ageas rose as much as 3.1% in early Brussels trading.

Last year, the Belgian group attempted to buy Direct Line, but its bid was unsuccessful. Direct Line is now set to be acquired by Aviva, the UK’s largest insurer, in a £3.7 billion deal.

Ageas’s purchase of Esure, alongside its planned acquisition of the personal lines business of Saga in 2025, signals a clear intent to grow its position in the highly competitive personal insurance market.

Esure, which operates the Sheilas’ Wheels and First Alternative brands, has carved out a strong presence through partnerships with brokers and by leveraging price comparison websites to reach customers.

Established in 2000 by Sir Peter Wood — who also founded Direct Line — Esure set out to offer competitive policies by making use of online channels. The approach has paid dividends, particularly in the past year.

In 2024, Esure reported what it called a “pivotal year of transformation.” The insurer grew its policy count by nearly 3% to 2.1 million, while turnover rose 14% to £1.1 billion.

More notably, the company swung from a trading loss of £16.7 million in 2023 to a profit of £126 million, highlighting the effectiveness of its recent strategy.

The transaction, to be financed by a mix of cash, debt and equity, is expected to be finalised in the second half of 2025.

How will the deal benefit Ageas?

The integration of Ageas UK and esure set to be completed during Ageas’ current strategic cycle running through 2027.

“Entering the next strategic period, we project that the transaction will generate a full cost saving potential in excess of 100 million pounds per annum, before tax,” Ageas said.

It also expects the deal to yield an uplift of more than 1 percentage point to its return on equity, on a run-rate basis.

Analysts at JPMorgan said the transaction represents a sound move for Ageas, as it will not only increase its scale but also strengthen its distribution channels.

“The deal will substantially increase Ageas’s scale in the UK personal lines market, taking into account Ageas’s deal to acquire the personal lines business of Saga in 2025. It will also accelerate Ageas’s position in the important price comparison website channel. The deal will more than double Ageas’s UK property & casualty revenues,” they said.

RSA Insurance to adopt Intact brand name

In a separate development, RSA Insurance announced it will change its trading name to Intact Insurance by the end of the year, aligning itself with its Canadian parent company, Intact Financial Corporation.

The RSA brand, which traces its origins back to 1710, has been a fixture in the British insurance sector for over three centuries.

Charles Brindamour, chief executive of Intact, said the rebranding was a natural progression following Intact’s acquisition of RSA in 2021.

“The transformation of the UK business since it was acquired by Intact has been exceptional,” he said. “Aligning under the Intact brand is a natural next step in our strategy to strengthen our leading position in the UK, Europe and Ireland.”

The post Ageas to acquire Esure in £1.3bn deal, targets doubling UK business and £100m in savings appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
How Mike Johnson rescued Trump’s tax agenda from jaws of likely defeat
next post
How is the SPYI ETF doing as the US stock market drops?

Related Posts

Asian markets open: Nikkei hits another record high,...

October 7, 2025

Top reasons why the Topix and Nikkei 225...

October 7, 2025

Goldman Sachs boosts 2026 gold price forecast to...

October 7, 2025

Beijing intensifies oil stockpiling amid global supply and...

October 7, 2025

Trump’s new 25% truck tariff targets imports from...

October 7, 2025

CAC 40 Index outlook: Understanding the decline and...

October 7, 2025

DAX Index analysis: Why German stocks are rising...

October 7, 2025

Europe markets open: Stoxx 600 flat, CAC 40...

October 7, 2025

LG India’s $1.3B share sale highlights record IPO...

October 7, 2025

Trilogy Metals shares soar over 200% as White...

October 7, 2025

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.

By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • The OECD’s Warning to America: Economic Growth Is Slipping

    October 7, 2025
  • Semiconductor Giants with Tech-Industrial Ambitions

    October 7, 2025
  • Will Bitcoin Strengthen or Weaken US Dollar Dominance?

    October 7, 2025
  • Asian markets open: Nikkei hits another record high, Sensex up 140 pts

    October 7, 2025
  • Top reasons why the Topix and Nikkei 225 indices are soaring

    October 7, 2025
  • Goldman Sachs boosts 2026 gold price forecast to $4,900 amid strong demand

    October 7, 2025

Editors’ Picks

  • 1

    Meta executives eligible for 200% salary bonus under new pay structure

    February 21, 2025
  • 2

    Walmart earnings preview: What to expect before Thursday’s opening bell

    February 20, 2025
  • 3

    New FBI leader Kash Patel tapped to run ATF as acting director

    February 23, 2025
  • 4

    Cramer reveals a sub-sector of technology that can withstand Trump tariffs

    March 1, 2025
  • 5

    Anthropic’s newly released Claude 3.7 Sonnet can ‘think’ as long as the user wants before giving an answer

    February 25, 2025
  • 6

    Nvidia’s investment in SoundHound wasn’t all that significant after all

    March 1, 2025
  • 7

    Pop Mart reports 188% profit surge, plans aggressive global expansion

    March 26, 2025

Categories

  • Economy (2,804)
  • Editor's Pick (280)
  • Investing (185)
  • Stock (1,914)
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Read alsox

Can Lloyds share price surge to 100p...

May 1, 2025

What CoreWeave IPO means for Goldman Sachs

March 31, 2025

Intel stock soars as chipmaker names new...

March 13, 2025