Ageas to acquire esure from Bain Capital for £1.3bn.

Ageas, a listed international insurance group, agreed to acquire esure, an Internet and telephone based insurance company, from Bain Capital, a private investment firm, for £1.3bn. The combination of Ageas UK and esure will create the third largest UK personal lines platform with a balanced and diversified distribution spanning Direct, PCW, brokers and partnerships. The acquisition of esure will enable Ageas UK to accelerate the diversification of its distribution strategy into the important PCW channel in the UK market.