Ageas UK completes £116m Groupama acquisition

Barry Smith

The deal - which was announced in September - will see Ageas become the fifth largest UK non-life insurer with a 5.2% market share, fourth largest private motor insurer (11.7%) and fourth largest personal lines insurer (7.1%).

As part of the agreement the Groupama Insurances brand will be ‘phased out' over the next year.

Groupama will operate as a separate wholly-owned subsidiary of Ageas, while a newly-constituted board will be formed with representation from both businesses.

Ageas said that

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