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Ageas refuses to entertain takeover offer

Ageas refuses to entertain takeover offer | Insurance Business UK

Ageas refuses to entertain takeover offer

International insurance group Ageas – which has appointed Hans De Cuyper, chief executive of Belgian subsidiary AG Insurance, as incoming Ageas CEO – isn’t interested in the offer put forward by BE Group. 

“In response to media reports,” the company said in a brief statement, “Ageas confirms that it was approached recently by representatives of BE Group with an indicative and highly conditional offer on Ageas.

Read more: Ageas reveals new CEO

“The Ageas board of directors assessed the indicative proposal but considered it not realistic and has decided not to engage.”

Ageas, a provider of both life and non-life insurance products, did not disclose financial details of the dismissed offer.