With esure now part of the group, Ageas said its presence spans direct sales, price comparison websites, brokers, and strategic partnerships. The company expects the deal to add significant scale, create shareholder value through synergies, and strengthen its technology and data capabilities. Integration of Ageas UK and esure is scheduled to be completed during the Elevate27 strategic cycle.
Esure operates as a digitally focused personal lines insurer, managing more than 2.1 million policies across well-known brands including esure, Sheilas’ Wheels, and First Alternative. Its business is predominantly sourced through price comparison websites, and the company generates annual gross written premiums exceeding £1 billion.
The acquisition is expected to deliver annual cost savings of more than £100 million and achieve a return on investment above 12 percent. Ageas also anticipates that the deal will boost holding free cash flow per share by around 10 percent after 2027. The total consideration for the acquisition amounts to £1.295 billion, or €1.510 billion.
Bain Capital, which bought esure in 2018, invested about £50 million in upgrading the company’s digital infrastructure.
For the first half of 2025, Ageas reported inflows of €10.5 billion, an increase of 4 percent at constant exchange rates compared with the same period a year earlier. The group’s net operating result reached €734 million for the period. Management has projected a full-year net operating result of between €1.3 billion and €1.35 billion, including esure, assuming no significant adverse events.
Taking into account the full impact of both the esure and Saga acquisitions, Ageas said its pro forma Solvency II ratio is expected to stand at 205 percent.
