Overview

• Belgian insurer Ageas has agreed to purchase UK-based Esure, owner of Sheilas’ Wheels, from Bain Capital for £1.3 billion.
• The acquisition will make Ageas the third-largest provider of motor and home insurance in the UK, pending regulatory clearance expected later in 2025.
• Esure’s financial turnaround in 2024, with a trading profit of £127 million after previous losses, made it an attractive acquisition target.
• Ageas aims to leverage Esure's online and broker distribution channels to expand its customer base and scale in the UK personal lines market.
• This deal reflects ongoing consolidation in the UK insurance sector, following similar moves such as Aviva’s acquisition of Direct Line.