Ageas ends DLG takeover plans after two rejections
After being rebuffed twice, Ageas has ended its pursuit of Direct Line Group, having valued the business at over £3.1bn.
Ageas first approached DLG in January and upped its bid earlier this month. DLG rejected them both, labelling the second offer as uncertain, unattractive and highly opportunistic.
On 22 March Ageas confirmed that after the two attempts it will not be following up with a third proposal.
Under London Stock Exchange rules, the insurer is now unable to make a move for DLG for six months unless another bidder emerges or DLG waives the restriction.
ConcernsThe news is likely to be well received by
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
GI AR numbers fall again
The general insurance and protection sector saw the biggest fall in the number of appointed representatives last financial year, the Financial Conduct Authority has calculated.
Pen doubles limits to £10m to ‘maxmise relevance’ in SME cyber
Pen Underwriting is to double the SME cyber cover limit available to £10m for risks incepting on or after 1 July 2026.
CII ups new gen programme spots to 60
The Chartered Insurance Institute has opened up entries to its New Generation Programme for emerging professionals across the UK, increasing the number of spots to 60.
Clear hires CFO as Money withdraws
Nathan Bavidge has been appointed chief financial officer at Clear Group following Tim Money’s decision to step down at the end of June 2026.
Liberty opens new proposition for retail sector
Liberty Specialty Markets has launched a bespoke proposition for mid to upper-midsized retail companies, flagging it is available via dedicated hubs in Manchester, Bristol and Dublin, supported by its London head office.
Aventum wholesale broker unveils underwriting platform Scriptus
Wholesale broker Consilium has launched a complex commercial binding facility, promising brokers no minimum or maximum turnover thresholds.
Ex-network MD Derbyshire joins Konsileo
Former network boss Dawn Derbyshire has joined Konsileo as head of commercial strategy.
JMG expands with Langton and Portsoken
JMG Group has bought Langton London Insurance Brokers and managing general agent Portsoken, Insurance Age can reveal.