Bain Capital gives to take UK insurer esure personal in…

Aug 14 – UK insurer esure Group Plc has agreed to be purchased out by Bain Capital Non-public Fairness at a 1.21 billion pound ($1.55 billion) valuation, the corporate mentioned on Tuesday.

Bain Capital supplied 280 pence per share supply and the corporate mentioned its impartial administrators think about the supply truthful and cheap.

The corporate additionally reported a 20 % drop in fist-half pre-tax revenue, harm by claims associated to a spell of maximum winter climate within the nation earlier this 12 months. ($1 = 0.7830 kilos) (Reporting by Noor Zainab Hussain in Bengaluru; Modifying by Amrutha Gayathri)

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