Ageas said it will halt its pursuit of UK insurer Direct Line Insurance Group Plc after two takeover proposals were rejected this year. The Belgian insurer had put forth an offer valuing Direct Line at about £3.2 billion ($4.1 billion) …
Direct Line posted a 2023 operating loss as it grapples high motor claims inflation, but reinstated its dividend as the British home and motor insurer tries to fend off takeover offers from Belgian rival Ageas. The 189.6 million pound ($242.6 …
Britain’s Direct Line said on Wednesday it had rejected a revised 3.17 billion pound ($4.06 billion) takeover bid from Belgian rival Ageas, repeating that it “significantly undervalued” the home and motor insurer. Direct Line, a household name in insurance in …
Belgian insurer Ageas has brought in an additional adviser as it presses ahead with a potential takeover offer for Britain’s Direct Line, three sources familiar with the matter told Reuters. Ageas has lined up Deutsche Bank to work alongside its …
The UK has become a hotbed for mergers and acquisitions this year as dealmakers hunt for bargains in the country’s underperforming stock market. Direct Line Insurance Group Plc and electronics retailer Currys Plc both rejected bids from overseas buyers this …
Direct Line Insurance Group Plc said its board unanimously rejected a bid from Ageas, describing the offer as “uncertain” and “unattractive.” The Belgian insurer said in a regulatory filing Wednesday that “it is in the preliminary stages of considering a …
UK insurer Direct Line Group announced that Adam Winslow has been appointed as chief executive officer, subject to regulatory approval. It is expected that he will take up the role in the first quarter of 2024, succeeding Jon Greenwood who …
Motorists in Britain should brace for another year of steep insurance rises as providers confront cost pressures, industry figures have warned. Admiral Group Plc will continue increasing motor insurance prices and expects the rest of the market to follow suit, …
Direct Line Insurance Group’s chief executive of nearly four years, Penny James, will step down with immediate effect after the British motor and home insurer faced “significant headwinds” in recent months, the company said on Friday. James, who joined Direct …
European insurers are having a rough time. Already carrying the burden of low yields eroding their investment income, disappointing earnings as well as some companies’ exposure to Asia are making things even worse. The Stoxx Insurance 600 index is down …
