Belgian insurer Ageas to acquire UK's esure for $1.7 billion

Ageas SA/NV

14/04/2025 06:31

April 14 (Reuters) - Belgian insurer Ageas AGES.BR on Monday reached agreement with Bain Capital to acquire UK-based car and home insurer esure for 1.3 billion British pounds ($1.70 billion) in a combination that will create the third largest personal lines platform in UK.

The deal will allow British division Ageas UK to widen its target customer demographics and grow its revenues to 3.25 billion pounds by 2028.

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

($1 = 0.7632 pounds)

 (Reporting by Mateusz Rabiega; Editing by Tom Hogue)

 ((Mateusz.Rabiega@thomsonreuters.com; +48 58 769 67 57;))