Ageas UK and Groupama SA today announced that they are in exclusive discussions regarding the sale of Groupama's UK Non-Life Insurance business. This excludes Groupama's UK broking operations.

The exclusivity is granted for a period of approximatively 4 weeks. Both parties will refrain from any further comment until the discussions have been concluded.

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Groupama Insurances offers a range of car, motorcycle, home, travel, personal accident and commercial insurance in the UK with Gross Written Premium reaching GBP 408 million (EUR 490 million)as at 31.12.2011.

Ageas is an international insurance company with a heritage spanning more than 180 years. Ranked among the top 20 insurance companies in Europe, Ageas has chosen to concentrate its business activities in Europe and Asia, which together make up the largest share of the global insurance market. These are grouped around four segments: Belgium, United Kingdom, Continental Europe and Asia and served through a combination of wholly owned subsidiaries and partnerships with strong financial institutions and key distributors around the world. Ageas operates successful partnerships in Belgium, UK, Luxembourg, Italy, Portugal, Turkey, China, Malaysia, India and Thailand and has subsidiaries in France, Hong Kong and UK. It is the market leader in Belgium for individual life and employee benefits, as well as a leading non-life player, through AG Insurance, and in the UK, it has a strong presence as the fourth largest player in private car insurance and the over 50's market. It employs more than 13,000 people and has annual inflows of more than EUR 17 billion.

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