Ageas confirms completion of Groupama Insurance Company Limited acquisition
(Thomson Reuters ONE) -
Following the announcement of the signing of the agreement to acquire Groupama
Insurance Limited (GICL) on 21 September 2012 and after having received the
regulatory approvals, Ageas today confirms the completion of the transaction.
This deal will position Ageas as the fifth largest UK Non-Life insurer (with a
5.2% market share); fourth largest Private Motor insurer (with a 11.7% market
share); and fourth largest Personal lines insurer (with a 7.1% market share)[1].
Ageas is an international insurance company with a heritage spanning more than
180 years. Ranked among the top 20 insurance companies in Europe, Ageas has
chosen to concentrate its business activities in Europe and Asia, which together
make up the largest share of the global insurance market. These are grouped
around four segments: Belgium, United Kingdom, Continental Europe and Asia and
served through a combination of wholly owned subsidiaries and partnerships with
strong financial institutions and key distributors around the world. Ageas
operates successful partnerships in Belgium, UK, Luxembourg, Italy, Portugal,
Turkey, China, Malaysia, India and Thailand and has subsidiaries in France, Hong
Kong and UK. It is the market leader in Belgium for individual life and employee
benefits, as well as a leading non-life player, through AG Insurance, and in the
UK, it has a strong presence as the fourth largest player in private car
insurance and the over 50's market. It employs more than 13,000 people and has
annual inflows of more than EUR 17 billion.
Ageas UK is a leading provider of award-winning Personal, Commercial and
Protection insurance solutions in the UK. Ageas UK distributes both its Non-Life
and Life products through a range of channels including brokers, IFAs,
intermediaries, affinity partners and the Internet, as well as through its
retail strategy via its wholly owned companies (RIAS, Ageas Insurance Solutions,
Castle Cover and Kwik Fit Financial Services). Insuring in the region of 8
million customers and working with a range of partners, Ageas is recognised for
delivering consistent and high-quality customer experiences. It employs over
5,500 people with offices based in Eastleigh, Belfast, Bournemouth, Gloucester,
London, Glasgow, Reigate and Stoke-on-Trent.
Groupama Insurance Company Limited is a highly respected specialist insurer
offering solutions for non-standard motor and
home insurance as well as an innovative range of niche commercial products for
small to medium sized businesses. The company
employs over 600 staff in 5 centres and is an accredited 'Investor in People'
Gold Standard.
MEDIA CONTACT
+32 (0)2 557 57 37 / +32 (0) 479 79 50 02
INVESTOR RELATIONS
Brussels
+32 (0)2 557 57 33
Utrecht
+31 (0)30 252 53 05
Ageas
Rue du Marquis 1 - 1000 Brussels - Belgium
www.ageas.com
--------------------------------------------------------------------------------
[1] Based on analysis of Datamonitor/Synthesis 2011 market share data except for
Admiral where total premiums are sourced from annual reports
Pdf version press release:
http://hugin.info/134212/R/1657971/536373.pdf
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originality of the information contained therein.
Source: Ageas via Thomson Reuters ONE
[HUG#1657971]
Unternehmensinformation / Kurzprofil:
Datum: 14.11.2012 - 17:41 Uhr
Sprache: Deutsch
News-ID 203656
Anzahl Zeichen: 4121
contact information:
Town:
1000 Brussels
Kategorie:
Business News
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"Ageas confirms completion of Groupama Insurance Company Limited acquisition"
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