Ageas News

Generali CEO Says Insurer Has Financial Strength for M&A Deals

Italian insurance giant Assicurazioni Generali SpA has the financial means for acquisitions that fit its template for value creation, according to Chief Executive Officer Philippe Donnet. “We are considering very strict discipline for M&A which allows value creation,” Donnet said …

Insurer Ageas Recruits Extra Adviser as it Pursues Direct Line Bid

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 …

Generali CEO’s Strategic Wishlist Includes €10 Billion Deals

Assicurazioni Generali SpA is analyzing a range of potential takeover candidates as part of the insurer’s growth plans, with some of them worth more than €10 billion ($10.9 billion), according to people familiar with the matter. The Italian insurer would …

UK Plc Attracts Wave of Takeover Offers From Foreign Suitors

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 Rejects ‘Unattractive’ £3.1 Billion Bid From Ageas

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 …

AXA Insurance UK Buys Ageas UK’s Commercial Business Renewal Rights

AXA Insurance UK announced the acquisition of the renewal rights to Ageas UK’s commercial business for an initial consideration of £47.5 million (US$64.3 million). The deal will see Ageas’ Commercial lines business transfer to AXA from July 2022, while existing …

BE Group Takes Fresh Look at Buying $10 Billion Insurer Ageas

BE Group, an investor group fronted by former financial services dealmakers, is exploring the feasibility of a fresh pursuit of Belgian insurer Ageas after a previous attempt was rebuffed, people familiar with the matter said. The consortium has been speaking …

Ageas UK’s CEO Watson to Step Down, Succeeded by Middle

After 10 years with Ageas UK, Andy Watson has decided to step down from his role as CEO and will be succeeded by Ant Middle, the current chief customer officer, Ageas announced. Watson has decided to step down from his …

Insurer Ageas Uses AI to Create End-to-End Car Damage Assessments in UK

Ageas is using artificial intelligence (AI) to create end-to-end assessments and estimates of vehicle damage, which it says is a first for a UK insurance company. Ageas is using an AI solution, developed by technology company Tractable, to support some …

Generali Is Front-Runner to Buy Portugal Insurer Tranquilidade: Sources

Assicurazioni Generali SpA has emerged as the front-runner to acquire Apollo Global Management’s Tranquilidade, the second-largest non-life insurer in Portugal, people familiar with the matter said. The Italian insurer offered the highest bid for the Portuguese company and is poised …