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One million new policyholders expected to join up as Manchester insurance business secures £116million takeover

By Dean Wilkins

More than a million new insurance policyholders will be secured by a Manchester business after announcing a £116million takeover today.

Ageas, who are responsible for the cover Tesco, Marks & Spencer and John Lewis provide, revealed the colossal deal with Groupama’s UK operations.

The car, motorcycle and home insurance firm employ staff in Manchester, Croydon, Portsmouth and Borehamwood and are expected to become the fourth largest motor insurer in the UK.

But after Ageas claimed it was ‘too early to comment’ about workers’ position within the company, they said it would remain ‘business as usual’ for their 5,400 employees.

Groupama is expected to rebranded as Ageas as they expand on their eight million customers in the country

Across the world, the group employ 38,000 people and have more than 16 million customers in 14 countries.

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