Kwik-Fit Insurance goes to Belgium

Kwik-Fit has just agreed a deal to sell its insurance arm to Belgian insurer Ageas for £215m. The deal, which is subject to regulatory approval,  should be completed in the next three months. It will give Ageas 600,000 more customers in the United Kingdom, on top of the one million it already has. Kwik-Fit is currently owned by French private equity group PAI Partners.

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