Ageas, which has a major office at Gloucester Business Park, has announced the successful completion of its acquisition of esure Group, following full regulatory approval and the agreement reached with Bain Capital in April 2025.

The company says this is a key milestone in Ageas UK's strategy to become a leading personal lines insurer in the UK.

The acquisition brings together two highly complementary businesses, creating a top UK personal lines insurer with over 7 million customers and a strong presence in both motor and home insurance.

Initially, esure will operate as a separate business within Ageas UK, continuing to serve customers through its established brands.

The combination establishes a balanced and diversified distribution model spanning direct-to-customer, price comparison websites, brokers, and partnerships. It further reinforces Ageas's commitment to the UK market and its ambition to grow in core geographies where it can build scale and deliver long-term value.

Ant Middle, CEO of Ageas UK, who will lead the combined business, said: "Today marks a defining chapter for Ageas UK. By uniting the strengths of our leading broker and partnerships business with a direct-to-customer market leader and harnessing the specialist expertise we now have through our partnership with Saga, we are building a sustainable and successful personal lines insurer for the long term.

"Our vision at Ageas UK has always been clear: to reach the podium as one of the top three personal lines insurers. Today, we're not just stepping onto that podium, we're aiming to take a leading role in defining the future of personal lines insurance in the UK. I'm incredibly grateful to everyone who has helped us reach this milestone, while continuing to run our business brilliantly for our customers."

With the deal now complete, David McMillan and Peter Bole will step down from their respective roles as CEO and CFO of esure.

Ant Middle added: "I would like to thank David and Peter for their work in building esure into an innovative digital insurance business, which will play an important part in helping Ageas deliver against our strategy. Both David and Peter have provided invaluable collaboration throughout the development of this deal, and I wish them every success in their onward journeys."

Peter Martin-Simon, currently chief commercial officer, will now become CEO of esure reporting to Ant Middle, and Alistair Smith, currently director of finance, will assume the role of CFO, esure, reporting to Peter.