Retailer Tesco Buys Out Ageas Stake In Underwriter

Law360, London (October 14, 2020, 4:59 PM BST) -- The personal finance arm of supermarket chain Tesco PLC said Wednesday it will buy out its partner's stake in an underwriting joint venture for at least £104 million ($135.5 million).

Tesco Bank said it had reached an agreement with Ageas U.K. Ltd. to buy the insurer's 50.1% stake in Tesco Underwriting.

The managing general agent, which sells Tesco-branded car and home insurance policies, has been run as a joint venture since 2010.

"Tesco Underwriting has benefited from Ageas's expertise in the market over the last 10 years, and as partners we are committed to ensuring a smooth transition for all of...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!