Ageas to Acquire esure from Bain Capital for £1.3bn
Deal News | Apr 14, 2025 | Re-Insurance News
Ageas, an international insurance group, has entered into a definitive agreement with Bain Capital to acquire esure, a UK-based digital personal lines insurer, for £1.295 billion. The acquisition aims to bolster Ageas's presence in European markets and solidify its position in the UK as a leading personal lines insurer. Through this transaction, Ageas plans to gain synergies, enhance cash generation, and diversify its distribution strategy via esure's strong footing in the UK price comparison website (PCW) channel. The merger between Ageas UK and esure is set to establish the third-largest personal lines platform in the UK. The transaction, aligned with Ageas's strategic M&A objectives under its Elevate27 plan, is expected to close in the second half of 2025, pending regulatory approvals. Financing will be through surplus cash, as well as senior and hybrid debt and/or equity.
Sectors
- Insurance
- Mergers and Acquisitions
Geography
- United Kingdom – The focus of the article is on the UK market, where esure operates and Ageas looks to expand its personal lines insurance business.
- Europe – Ageas's acquisition of esure is part of its strategy to strengthen its presence in the broader European insurance market.
Industry
- Insurance – The article focuses on the acquisition of esure, a personal lines insurer, by Ageas, an insurance group, highlighting developments within the insurance sector.
- Mergers and Acquisitions – The article discusses a significant M&A transaction where Ageas acquires esure from Bain Capital, emphasizing transaction details and strategic synergies.
Financials
- £1.295 billion – The agreed cash consideration for the acquisition of esure by Ageas from Bain Capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ageas | Acquiring Company | Company | Ageas is an international insurance group seeking to expand its UK and European markets through the acquisition of esure. |
| esure | Target Company | Company | A UK-based digital personal lines insurer being acquired by Ageas. |
| Bain Capital | Selling Company | Private Equity | Bain Capital is the current owner of esure, facilitating the sale to Ageas. |
| Hans De Cuyper | CEO of Ageas Group | People | Hans De Cuyper is leading Ageas through its strategic acquisition of esure. |
| Ant Middle | CEO of Ageas UK | People | Ant Middle highlights the strategic alignment of acquiring esure with Ageas UK’s growth strategy. |
| David McMillan | CEO of esure Group | People | David McMillan comments on the strategic benefits of merging esure with Ageas. |
| Luca Bassi | Partner at Bain Capital | People | Luca Bassi provides insights on esure's performance and strategic positioning through Bain Capital's ownership. |