Divestiture • Insurance

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 Context
  • 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.

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M&A Deal Summary

Date February 15, 2022
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 Company

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 Overview 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 Context for Buyer #
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 Profile 1

SELLER

ageas

Brussels, Belgium

Category Company
Founded 1824
Sector Insurance
Employees16,797
Revenue 8.5B EUR (2024)
DESCRIPTION

ageas is an international insurance group that concentrates 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 Context for Seller #
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
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-14 esure

Reigate, United Kingdom

esure is a motor insurer offering car, home, pet and travel insurance over the internet and by phone through the esure and Sheilas’ Wheels brands. esure was founded in 2000 and is based Reigate, United Kingdom.

Buy £1.3B

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