Ageas
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The acquisition will position Ageas as one of the top three UK personal lines insurers. -
Ageas made headlines this year following an attempt to acquire Direct Line.
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Direct Line had rejected two prior attempts by the Belgian carrier.
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The Belgian carrier lodged a takeover bid in January.
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Direct Line’s board said it received the offer on 19 January and rejected it on 29 January.
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Direct Line's shares surged by 28% following the confirmation.
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The group has created a managing directorship for reinsurance and investments, to be filled from June by its current CRO.
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