The transaction, expected to complete in the second half of 2025 pending regulatory approval, follows Bain's acquisition of Esure in 2018 for '1.2bn. Since then, the private equity firm has supported a digital and operational transformation that culminated in a strong financial turnaround. Esure generated '1.3bn ('1.5bn) in revenue and '146.7m ('126.8mn) in trading profit in 2024, rebounding from a loss in the previous year. Ageas, which previously made unsuccessful takeover attempts for Direct Line, said the acquisition will unlock at least '100m ('115.8mn) in annual pre-tax synergies and grow its UK market revenue to '3.8bn ('3.3bn) by 2028. Esure's brand portfolio includes Sheilas' Wheels and First Alternative, and it operates a strong presence on price comparison websites. Hans De Cuyper, CEO of Ageas Group, stated the deal would position Ageas UK among the top three personal lines insurers. Esure CEO David McMillan highlighted the complementary nature of the firms' broker...
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