Latest news with #Ageas
Finextra
28-05-2025
- Business
- Finextra
Ageas joins Financial Services Skills Commission
Ageas, one of the biggest car and home insurers in the UK, has joined the Financial Services Skills Commission to help equip its 2,200 employees with the skills they need for fulfilling careers in financial services. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The Commission is an independent, not for profit, member-led body, representing the UK's financial services sector on skills. The organisation works directly with the sector to ensure businesses have the talent and skills they need for the future. Certified as a Top Employer for fourth consecutive year, Ageas was positioned eighth in the UK in 2025. Its lived purpose of offering brilliant service when it matters is core to all employees at Ageas and was recently recognised by the Institute of Customer Service who awarded Ageas ServiceMark with Distinction, making them the largest personal lines insurer to achieve this success. A nurturing and inclusive ethos is paramount to the culture of Ageas, where development opportunities are based on interest rather than seniority. This allows for internal career progression that creates a community of learners, develops a pipeline of talent in key technical areas, and maximises opportunities for everyone, growing Ageas from the inside out. One example of this is their internal apprenticeship programme Pathfinder where employees, without any prior experience, are offered a development route from any area of the business into a new permanent role in data, IT development or digital marketing. Ageas will become 'partner' members. They will join the Commission's advisory group and contribute to working groups to drive change on the sector's skill gaps, and develop an approach that supports more reskilling, motivating learning, upskilling and attracting talent. Sian Myers Chief People Officer at Ageas, said: 'At Ageas I'm proud to say that we invest in the best and we are committed to offering our people a great place to grow their skills and their careers. Being a member of the Financial Services Skills Commission will enable us to ensure that we're able to continue breaking down barriers to entry and empowering our people to try, explore, and develop.' Claire Tunley, Chief Executive of the Financial Services Skills Commission, said: 'The team at Ageas are already focused on increasing technical excellence and internal mobility across their workforce. We're looking forward to working with them to boost skills and position themselves for future growth and success.'
Yahoo
19-05-2025
- Business
- Yahoo
Ageas reports on the progress of share buy-back programme
Ageas reports on the progress of share buy-back programme Further to the initiation of the share buy-back programme announced on 28 August 2024, Ageas reports the purchase of 70,414 Ageas shares in the period from 12-05-2025 until 16-05-2025. Date Number ofShares Total amount(EUR) Average price(EUR) Lowest price(EUR) Highest price(EUR) 12-05-2025 17,908 997,984 55.73 55.40 56.65 13-05-2025 15,090 838,762 55.58 55.40 55.75 14-05-2025 14,114 787,994 55.83 55.40 56.10 15-05-2025 8,889 499,799 56.23 56.00 56.45 16-05-2025 14,413 817,006 56.69 56.50 56.85 Total 70,414 3,941,544 55.98 55.40 56.85 Since the start of the share buy-back programme on 16 September 2024, Ageas has bought back 3,140,146 shares for a total amount of EUR 155,993,888. This corresponds to 1.58% of the total shares outstanding. The overview relating to the share buy-back programme is available on our website. Attachment Pdf version of the press releaseError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Automotive
- Yahoo
Belgian insurer Ageas acquires UK's Esure from Bain Capital for €1.5bn
Belgium's Ageas has agreed to buy UK insurer Esure from private equity firm Bain Capital for around £1.3 billion (€1.5bn). Insurer Ageas said the deal would allow it to save at least £100 million (€115.8mn) per year before tax, according to a statement released on Monday. The firm added that the deal will expand its reach, helping to grow its market revenue to £3.3bn (€3.8bn) by 2028. The transaction is predicted to close in the second half of this year, subject to regulatory approval. 'This transaction will allow us to offer competitive value propositions to a wider customer profile via a multi-channel distribution model, positioning Ageas UK as one of the top three personal lines insurers,' CEO of Ageas Group, Hans De Cuyper, said on Monday. CEO of Esure Group, David McMillan, said in the same statement: 'Combining Ageas's scale, financial strength and excellent broker relationships with esure's strong retail brands, market-leading data capabilities and strength on PCWs, alongside a shared technology platform, will enhance our combined ability to invest in our customer proposition and open up new opportunities for growth.' Esure, which also operates under the brand names Sheilas' Wheels and First Alternative, was founded in 2000 and has been owned by Bain Capital since 2018. The group paid £1.2bn (€1.4bn) to end public ownership of the firm in 2018. Related UK insurers Aviva and Direct Line agree on sweetened takeover bid Aviva buys Direct Line, gaining share of the UK motor insurance market The deal also comes after Ageas attempted to expand its UK footprint by bidding for Direct Line. The British car insurer rejected two takeover bids from Ageas, the second of which valued the firm at £3.2bn (€3.7bn), branding the offer as 'unattractive' for shareholders. Direct Line is now being acquired by the UK's largest insurer Aviva for £3.7bn (€4.3bn), a takeover Direct Line approved after rejecting the firm's first offer. The acquisition means the combined group dominates more than 20% of the motor insurance market and 15% of the home sector. Esure said it had seen 'excellent progress' in its financial report for 2024, making a turnover of £1.1bn (€1.3bn), compared to £973mn in 2023. The company made a trading profit of around £126.8mn (€146.7mn) last year, up from a loss of £16.7mn in 2023. The deal between Esure and Ageas comes after the UK government launched an investigation into the high cost of car insurance last year, although prices have been falling in recent months.
Business Mayor
25-04-2025
- Business
- Business Mayor
Direct Line investors urged to reject bonus awards ahead of Aviva takeover
Unlock the Editor's Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. An influential proxy adviser has told Direct Line investors to vote against bonus awards worth 300 per cent of base salary, placing the insurer's pay practices under renewed scrutiny ahead of its expected takeover by Aviva. Institutional Shareholder Services said that investors should reject long-term incentive plan awards, which could hand chief executive Adam Winslow roughly £2.55mn and chief financial officer Jane Poole £1.71mn. The executives have to satisfy performance conditions to receive the full amount of the awards. The bonuses — which are the maximum level permitted under the company's remuneration policy — were first proposed last summer, after Direct Line had fended off a takeover bid from Belgian insurer Ageas. However, directors' pay packages were determined before Direct Line agreed a sale to Aviva, a deal that is now awaiting regulatory approval. The acquisition is expected to be completed by mid-year, the companies have said. In its annual report last month, Direct Line's board said the bonuses would be granted as planned, adding that the incentive packages 'must operate effectively in all scenarios'. Shareholders will vote on the bonuses at the company's annual meeting on May 14. ISS questioned whether the pay packages were still relevant following Aviva's successful takeover bid, and noted that consultation with investors on the awards was cut short by the Aviva approach. Earlier bonus awards from 2021 were forfeited due to underperformance, ISS also noted. Direct Line has said that one of the purposes of the bonuses is talent retention. Winslow, who joined the group from Aviva, where he led the UK and Ireland general insurance unit, is widely expected to step down following the completion of the deal, said people familiar with the matter. Aviva's £3.7bn takeover of Direct Line marks one of the UK insurance sector's most significant consolidation deals in recent years, as the industry responds to mounting cost pressures and regulatory scrutiny. The all-cash offer, agreed in December 2024 after months of speculation, is expected to give Aviva more than a fifth of the UK's motor insurance market. Last week, Ageas announced a £1.3bn deal to buy rival Esure from private equity group Bain Capital.
Euronews
14-04-2025
- Automotive
- Euronews
Belgian insurer Ageas acquires UK's Esure from Bain Capital for €1.5bn
ADVERTISEMENT Belgium's Ageas has agreed to buy UK insurer Esure from private equity firm Bain Capital for around £1.3 billion (€1.5bn). Insurer Ageas said the deal would allow it to save at least £100 million (€115.8mn) per year before tax, according to a statement released on Monday. The firm added that the deal will expand its reach, helping to grow its market revenue to £3.3bn (€3.8bn) by 2028. The transaction is predicted to close in the second half of this year, subject to regulatory approval. 'This transaction will allow us to offer competitive value propositions to a wider customer profile via a multi-channel distribution model, positioning Ageas UK as one of the top three personal lines insurers,' CEO of Ageas Group, Hans De Cuyper, said on Monday. CEO of Esure Group, David McMillan, said in the same statement: 'Combining Ageas's scale, financial strength and excellent broker relationships with esure's strong retail brands, market-leading data capabilities and strength on PCWs, alongside a shared technology platform, will enhance our combined ability to invest in our customer proposition and open up new opportunities for growth.' Esure, which also operates under the brand names Sheilas' Wheels and First Alternative, was founded in 2000 and has been owned by Bain Capital since 2018. The group paid £1.2bn (€1.4bn) to end public ownership of the firm in 2018. Related UK insurers Aviva and Direct Line agree on sweetened takeover bid Aviva buys Direct Line, gaining share of the UK motor insurance market The deal also comes after Ageas attempted to expand its UK footprint by bidding for Direct Line. The British car insurer rejected two takeover bids from Ageas, the second of which valued the firm at £3.2bn (€3.7bn), branding the offer as 'unattractive' for shareholders. Direct Line is now being acquired by the UK's largest insurer Aviva for £3.7bn (€4.3bn), a takeover Direct Line approved after rejecting the firm's first offer. The acquisition means the combined group dominates more than 20% of the motor insurance market and 15% of the home sector. Esure said it had seen 'excellent progress' in its financial report for 2024, making a turnover of £1.1bn (€1.3bn), compared to £973mn in 2023. The company made a trading profit of around £126.8mn (€146.7mn) last year, up from a loss of £16.7mn in 2023. The deal between Esure and Ageas comes after the UK government launched an investigation into the high cost of car insurance last year, although prices have been falling in recent months.
