AIG buys Ageas Protect for £181m

The transaction is expected to be completed by the end of the year. Ageas Protect was launched in the UK in July 2008 and now has a 4.8% share in the total UK individual protection market, according to the company. Last year it contributed £92m to Ageas UK's total income of £2.1bn, but returned a loss of £1.8m. Belgium company Ageas' UK business is primarily non-life, with significant positions in the general insurance market. The focus for Ageas in the UK is to continue to develop these non-life positions in line with its strategy, the company said. > Read: Protection gap pu...