Ageas to Buy UK Insurer Esure from Bain for £1.3 Billion (1)

Ageas SA agreed to acquire the UK’s Esure Group Plc from Bain Capital for £1.3 billion, in a deal that will create the third largest motor and home insurer in the country.

Brussels-based Ageas said the deal could generate at least £100 million in cost savings for the insurer per year, according to a statement on Monday. The transaction, which is subject to regulatory approval, is expected to close in the second half of 2025. Shares in Ageas were trading up 1.8% as of 11:30 a.m. in Brussels.

Monday’s deal comes just over a year after Ageas’s failed takeover attempt ...