A defining chapter for UK as esure joins Group in landmark deal

The £1.3 billion acquisition was at that time the largest transaction ever completed by the Ageas Group and its impact is significant, propelling Ageas to the number 3 position in the UK personal lines market.

esure is a leading UK personal lines insurer. It sells mainly online through Price Comparison Websites (PCW) with three popular brands – esure, Sheilas’ Wheels and First Alternative. In 2024, esure had more than 2.1 million policies and over GBP 1 billion (EUR 1.2 billion) in gross written premiums. It is frequently recognised with industry accolades for its digital expertise and innovation.

This transaction is the pinnacle of a strategic initiative that began years ago to establish Ageas in the UK as an accomplished insurer by focusing on profitable growth solely in the personal lines business. Known for specialist broker distribution, strong technical insurance skills and technology, and providing insurance solutions for distribution partners and over four million customers, this opportunity represented the perfect next step in the evolution of the business.

The acquisition of esure will allow Ageas to accelerate the diversification of its distribution strategy into the PCW channel in the UK, while at the same time growing its broker business. And its underwriting footprint will widen Ageas UK’s target customer demographics, enabling growth to a top-line of GBP 3.25 billion (EUR 3.8 billion) by 2028.

Ageas is successfully creating a well-balanced, well-diversified distribution model spanning direct-to-customer, price comparison websites, brokers, and partnerships. And for the Group, this acquisition delivers on its ambition under Elevate27 to grow in Europe and to scale its UK operations.

Reflecting on the opportunities presented by the acquisition of esure, Ant Middle, CEO of Ageas UK said:

“By uniting the strengths of our leading broker and partnerships business with a direct-to-customer market leader and harnessing the specialist expertise we now have through our partnership with Saga, we are building a sustainable and successful personal lines insurer for the long term. Our vision at Ageas UK has always been clear: to reach the podium as one of the top three personal lines insurers. Today, we’re not just stepping onto that podium, we’re aiming to take a leading role in defining the future of personal lines insurance in the UK. I’m incredibly grateful to everyone who has helped us reach this milestone, while continuing to run our business brilliantly for our customers.”