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Esure Group is a UK-based direct-to-consumer insurer offering motor, home, and travel cover through online and phone channels, with some business from price comparison sites. It underwrites policies and collects premiums using brands such as esure, Sheilas' Wheels, and First Alternative to reach different risk profiles. Its Game Changer program uses a cloud-native platform, data science, and AI to streamline underwriting, pricing, and claims handling, delivering a digital-first customer experience. Its goal is to become a leading digital insurer in the UK by providing a streamlined online journey and efficient operations, helped by targeting lower-risk customers and leveraging direct channels.
Industries
Data & Analytics
Financial Services
Company Size
1,001-5,000
Company Stage
Acquired
Total Funding
$731.3M
Headquarters
Reigate, United Kingdom
Founded
2000
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Total Funding
$731.3M
Above
Industry Average
Funded Over
4 Rounds
<p align="left">Ageas reaches agreement with Bain Capital to acquire esure and establish a top-3 UK personal lines platform </p>
The British direct insurer Esure will now be part of Ageas. According to insiders, a German company was also interested in acquiring Esure.
Ageas's stock rose by approximately 2% in the morning following the announcement of its acquisition of the British insurer Esure for €1.5 billion. Financial analysts have endorsed this transaction.
Belgian insurer Ageas has made a significant acquisition in the UK by purchasing esure from Bain Capital for £1.295 billion, approximately €1.5 billion.
German insurer Allianz and Belgian insurer Ageas are considering separate bids to acquire British insurer Esure, according to Reuters, citing unnamed sources. Esure, based in Surrey, England, and owned by Bain Capital, could be valued at at least £1 billion ($1.29 billion). Spokespeople for Bain, Ageas, and Allianz declined to comment, and Esure directed inquiries to Bain.
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Industries
Data & Analytics
Financial Services
Company Size
1,001-5,000
Company Stage
Acquired
Total Funding
$731.3M
Headquarters
Reigate, United Kingdom
Founded
2000
Find jobs on Simplify and start your career today