Ageas UK confirms Groupama buy
Ageas has signed up to buy Groupama Insurance Company Limited (GICL) for £116m.
The deal follows the announcement of exclusive discussions on 7 September.
It will see Ageas become the fifth largest UK non-life insurer with a 5.2% market share, the fourth largest private motor insurer with a 11.7% market share and the fourth largest personal lines insurer with a 7.1% market share.
The transaction excludes Groupama's UK broking operations.
Based on 2011 non-life income of Ageas UK and Groupama the gross written premiums of Ageas UK as a result of the acquisition would
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