M&A Deal Summary

AXA UK Acquires ageas UK’s Commercial Lines Front Book Business

On February 15, 2022, AXA UK acquired insurance company ageas UK’s Commercial Lines Front Book Business from ageas for 48M GBP

Acquisition Highlights
  • This is AXA UK’s 1st transaction in the Insurance sector.
  • This is AXA UK’s 0th largest (disclosed) transaction.
  • This is AXA UK’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2022-02-15
Target ageas UK’s Commercial Lines Front Book Business
Sector Insurance
Buyer(s) AXA UK
Sellers(s) ageas
Deal Type Divestiture
Deal Value 48M GBP

Target

ageas UK’s Commercial Lines Front Book Business

United Kingdom
ageas UK’s Commercial Lines Front Book Business helps in maintaining strong and productive relationships with brokers and customers, prioritizing excellent underwriting, service and value by providing ongoing support and service delivery.

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Buyer(S) 1

Buyer

AXA UK

London, United Kingdom
Category Company
Founded 1994
Sector Insurance
Employees10,500
DESCRIPTION

AXA UK plc are one of the biggest insurance companies in the world. Company operates through a number of business units including: AXA Wealth, AXA Insurance, AXA PPP healthcare, AXA Ireland and an independent distribution business Bluefin.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
Country (United Kingdom) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-27 AXA Wealth - Pensions & Protection Businesses

United Kingdom

AXA Wealth - Pensions & Protection Businesses comprises a pensions and investments business, offering a range of propositions catering to both individual and corporate requirements ("Embassy"), and SunLife, a leader in the over 50s protection sector.

Sell £375M

Seller(S) 1

SELLER

ageas

Brussels, Belgium
Category Company
Founded 1824
Sector Insurance
Employees14,837
Revenue 9.8B EUR (2023)
DESCRIPTION

ageas is an international insurance group. Ageas has chosen to concentrate its business activities in Europe and Asia, which together make up the largest share of the global insurance market. Ageas was incorporated in 1824 and is headquartered in Brussels, Belgium.

DEAL STATS #
Overall 3 of 3
Sector (Insurance) 3 of 3
Type (Divestiture) 3 of 3
Country (United Kingdom) 2 of 2
Year (2022) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-31 Hong Kong Life Insurance Business - Ageas

Hong Kong, China

Hong King Life insurance business - provides Life insurance business in HK.

Sell €1.2B
Mergr

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