Esure Group plc (stylised as ''esure'') is an

Internet The Internet (or internet) is the Global network, global system of interconnected computer networks that uses the Internet protocol suite (TCP/IP) to communicate between networks and devices. It is a internetworking, network of networks ...

and telephone based

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

company based in

Reigate Reigate ( ) is a town status in the United Kingdom, town in Surrey, England, around south of central London. The settlement is recorded in Domesday Book of 1086 as ''Cherchefelle'', and first appears with its modern name in the 1190s. The ea ...

Surrey Surrey () is a Ceremonial counties of England, ceremonial county in South East England. It is bordered by Greater London to the northeast, Kent to the east, East Sussex, East and West Sussex to the south, and Hampshire and Berkshire to the wes ...

, England. It also has offices in

Manchester Manchester () is a city and the metropolitan borough of Greater Manchester, England. It had an estimated population of in . Greater Manchester is the third-most populous metropolitan area in the United Kingdom, with a population of 2.92&nbs ...

and

Glasgow Glasgow is the Cities of Scotland, most populous city in Scotland, located on the banks of the River Clyde in Strathclyde, west central Scotland. It is the List of cities in the United Kingdom, third-most-populous city in the United Kingdom ...

. The company was listed on the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

until it was acquired by

Bain Capital Bain Capital, LP is an American Investment company, private investment firm based in Boston, Massachusetts, Boston, Massachusetts, with around $185 billion of assets under management. It specializes in private equity, venture capital, credit, p ...

in December 2018.

History

Esure was founded in 2000 by businessman Peter Wood, who also launched the Direct Line insurance company for the

Royal Bank of Scotland The Royal Bank of Scotland Public Limited Company () is a major retail banking, retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest and Ulster Bank. The Royal Bank of Sco ...

. Esure is also known for its high-profile commercials with

Michael Winner Michael Robert Winner (30 October 1935 – 21 January 2013) was an English filmmaker, writer, and media personality. He is known for directing numerous action, thriller, and black comedy films in the 1960s, 1970s and 1980s, including several c ...

, used from 2002 to 2005 and resuming in 2007. The adverts spawned the phrase, "Calm down dear, it's a commercial". On 21 November 2007, it was announced that Esure would replace

E.ON E.ON SE is a European multinational electric utility company based in Essen, Germany. It operates as one of the world's largest investor-owned electric utility service providers. The name originates from the Latin word '' aeon'', derived from ...

as the sponsor of ITV National Weather bulletins. The two-year deal, rumoured to be worth £10 million, was negotiated by Carat Sponsorship and began on 1 January 2008.

Lloyds Banking Group Lloyds Banking Group plc is a British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009. It is one of the UK's largest financial services organisations, with 30 million customers and 65,000 employees. Lloyds B ...

sold its 70% stake in Esure to Esure Group Holdings, led by Peter Wood on 11 February 2010. The share was valued at around £185 million. The company was listed on the London Stock Exchange in March 2013. On the 8 December 2014, Esure announced that it was acquiring the remaining 50% of shares in financial comparison website Gocompare.com having previously secured a non-controlling stake in the company. In November 2016, the company demerged Gocompare.com again. In August 2018 the company agreed to be acquired by

. The takeover was sanctioned by the High Court in December 2018. In March 2020, Founder Sir Peter Wood stepped down as Chairman, and was replaced by Andy Haste. On 14 April 2025, it was announced that current owner

had agreed to sell the company for €1.510bn to

Ageas Ageas is a Belgian multinational insurance company co-headquartered in Brussels. Ageas is Belgium's largest insurer and operates in 13 countries worldwide. The company was renamed from Fortis Holding in April 2010 and consists of those insuranc ...

Operations

Esure offers motor insurance, home insurance and travel insurance. The company focuses on lower risk customers, offering cheaper premiums for customers with a current no claims bonus for its car insurance products. Esure car insurance also incorporates the First Alternative brand which in the past offered quotes to higher risk customers as a separately authorised insurer but now sits as a small-scale sub-brand of Esure.

Criticism and concerns

Concerns were raised in 2013 about potential conflict of interest. Esure's Peter Wood donated tens of thousands to the Conservatives and Esure's

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

(IPO) of February 2013 highlighted that insurance-company-friendly legislation of 2012 offered Esure expansion potential. "Quite evidently, Esure itself thought it was benefitting from the changes under new laws, as did Peter Wood personally, who made some £198 Million from the flotation"; about a third of his shares. In October 2014, Esure faced criticism after it declined an insurance claim and offered only a ‘goodwill payment’ of £5,000 on behalf of a policy holder whose abusive husband had set fire to her home. The husband pleaded guilty to effectively torturing his wife with an axe over a period of three days, and the non-payment of the policy left the victim homeless. In a statement, Esure said they had "utmost sympathy for the horrific incident" but added that insurance was there to cover "unexpected events and accidents, not deliberate and unlawful acts by individuals destroying their property". Concerns were raised in 2014 about potential conflicts of interest when insurance companies own insurance comparison sites.

Financial Conduct Authority The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom. It operates independently of the UK Government and is financed by charging fees to members of the financial services industry. The FCA regulates financi ...

(FCA) regulations says such potential conflicts of interest must be 'flagged up'. An FCA report said "Small print on the Gocompare.com website informs customers that it is 50% owned by Esure" (Esure owned 100% of GoCompare as of December 2014). However, "the FCA found no evidence that such firms had profited as a result of their potentially conflicting ownership."

References

External links

Esure.comEsure Group plc
{{Authority control Insurance companies of the United Kingdom Companies based in Surrey Financial services companies established in 2000 Internet properties established in 2000 Online insurance companies Companies formerly listed on the London Stock Exchange Bain Capital companies