Ageas
Ageas and Saga in £207.5m deal talks
Ageas has entered exclusive negotiations with Saga on a 20-year affinity partnership and buying Acromas in a package worth up to £207.5m.
Saga confirms talks with Ageas over insurance “partnership”
Saga has today confirmed it is in discussions with Ageas with “regard to a potential partnership arrangement for its insurance business”.
Ageas adds to distribution team with double senior hire
Ageas UK has strengthened its broker and partner distribution team with a double appointment.
Esure owner Bain eyeing up sale – report
Esure is possibly up for sale, as private equity firm Bain Capital has lined up advisors, according to Reuters.
Ageas Retail revenue ticks up as profit rebounds
Ageas’ wholly owned broking subsidiary Ageas Retail grew post-tax profit by 20% in 2023 to £6.5m, switching back to growth after declining in 2022.
Ageas delivers 49% growth in UK premiums
Ageas boosted UK gross written premiums by 49% in the first half of 2024 to €992m (£835m) citing customer growth and rate increases primarily in motor with “solid underwriting profitability”.
People Moves: 15 – 19 July 2024
Keep up to date with the latest insurance industry personnel moves.
Ageas here for brokers Beckett promises as connected personal lines flourishes
“We are here for the broker today, and we will very much be here for them tomorrow. There’ll be no change in that strategy,” Ageas chief distribution officer Adam Beckett tells Insurance Age.
Former broker brand Kwik Fit resurfaces
UK automotive servicing and repair company Kwik Fit has launched insurance for car owners on its website.
People Moves: 15 – 19 April 2023
Stay in the loop with the latest insurance personnel moves.
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.
Broker worries bubbling up on Ageas-Direct Line but one hope trumps all
Brokers have raised concerns about the impact on the sector if Ageas snaps up Direct Line but expressed confidence in the potential buyer’s management should a deal come to pass.
Direct Line rejects second “unattractive” takeover offer from Ageas
Direct Line Group has rejected a second takeover proposal from Ageas labelling it uncertain, unattractive and highly opportunistic.
Aviva open to bolt-on deals but unlikely to buy further in Lloyd’s, says Blanc
Aviva will maintain a “selective and disciplined approach” to mergers and acquisitions, according to group CEO Amanda Blanc as she indicated the insurer is not eyeing synergies with a Direct Line bid.
Ageas weighs up £3.1bn Direct Line bid
Ageas has confirmed a possible offer for Direct Line Insurance Group valuing the business at £3.1bn.
Ageas reveals 20% UK GWP growth in 2023
Ageas has reported a 20% hike in UK gross written premiums to €1.49bn (£1.27bn) for 2023, as profits in the European division rose.
The AA buys Keycare
The AA has purchased Key Care, the household and motor key insurance specialist.
Amazon to shut Insurance Store after just over a year
Amazon is closing its UK Insurance Store, which was launched with great fanfare in October 2022.
People Moves: 8 – 12 January 2024
Stay in the loop with the latest insurance personnel moves.
Review of the Year 2023: Ageas’s Middle, Beckett, Clarke and Linklater
The Ageas UK management team ponder the plethora of personal lines exits and why a reduction in IPT could be a 2024 election vote winner.
Turnover and profit drop at Ageas Retail in 2022
Turnover at broker Ageas Retail, which includes the Ageas Direct and Rias brands, fell in 2022 to £73.27m from £76.44m the year before.
Ageas posts 25% growth from ongoing UK business
Personal lines broker-focused Ageas grew its ongoing UK business by 25% in the first half of the year to €651m (£558m).
Broker-facing manager charged with murder
An insurance company employee has been charged with murdering a mum-of-two.
Experts call on brokers to take action as climate change drives shift in flood risk
Flood insurance specialists have urged brokers to stay on top of how they can help clients as the number of natural catastrophe weather events in the UK continues to increase due to climate change. Ida Axling investigates.