Esure is currently owned by Bain Capital
Two insurance giants are considering bids for motor and home insurance provider Esure, a report by Bloomberg has claimed.
According to the publication’s sources, Aviva and Allianz are among potential bidders, while Sampo Oyj, which owns British general insurer Hastings Group, has also shown early interest in a deal.
The report comes after Reuters said that private equity firm Bain Capital was looking at a possible sale of Esure after acquiring the firm in 2018 for £1.21bn.
In September 2024, Reuters said that sources claimed Bain had lined up advisers for a potential sale of the firm.
Bloomberg report that Bain is working with advisers to assess market interest, with a deal potentially reaching a valuation of £1.5bn.
Bloomberg also said that Bain is targeting large insurers with a UK presence that may have synergies with Esure.
Insurance Times has approached Allianz and Aviva for comment. Both insurers said they do not comment on market speculation.
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His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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