Ageas Protect sells for £197m
The sale of Ageas Protect Limited to AIG has today been completed for a total of £197 million.
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The transaction, which was first announced on 6 August 2014, has been approved by the regulator.
Ageas Protect currently has over a 5% market share in the UK protection market.
Andy Watson, CEO of Ageas UK said:
“The Ageas Protect team have achieved an enormous amount since start up six years ago. The business is now an established presence in the UK protection market with a strong reputation for innovative products, cutting edge technology and great customer service.
"As we continue to focus on our Non-Life business where we have considerable scale and hold significant market positions, we wish the Protect business well for the future, confident that their employees are going to a good home.”
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