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Ageas completes £197m sale of Ageas Protect to AIG

by: Post Magazine
  • 05/01/2015
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Ageas completes £197m sale of Ageas Protect to AIG
Ageas has completed the sale of its 100% shareholding in Ageas Protect Limited to AIG for £197m.

The transaction, which was first announced on 6 August 2014, has been approved by the regulator.

Ageas Protect was launched in the UK in July 2008 and now has over a 5% market share in the UK protection market.

On completion of the transaction, 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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