Bain Capital to buy Esure for £1.2bn
Esure also reported a 12% rise in GWP, but a fall in profit for the first half of 2018.
Esure has received a takeover offer from Blue Bidco, a subsidiary of Bain Capital Private Equity, valuing the insurer at approximately £1.2bn.
The provider confirmed that the board of Bidco and the independent directors of Esure had reached an agreement on the terms of a recommended cash offer.
Under the terms of the offer, Esure is valued at 280p per share.
Results
The news came as Esure posted a 12% rise in gross written premiums to £440.3m for the first half of 2018 (H1 2017: £393.3m).
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