Ageas: planned acquisition of Direct Line abandoned

(CercleFinance.com) - Ageas is up nearly 2% in Brussels, the insurer having announced on Friday evening that it will not be making an offer for Direct Line Insurance Group, following the failure of two recent attempts to establish a dialogue with the board of directors of this British group.


The Belgian group explains that it has not been able to identify any additional elements on the basis of the publicly available information that would justify significant adjustments to the terms of its potential offer.

Ageas still believes in the underlying attractiveness and future opportunities of the UK personal insurance sector and Ageas UK's role in this market, underpinned by its successful transformation in recent years, it adds.


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