Axa's UK and Ireland subsidiary has purchased the "renewal rights" for Belgian insurer Ageas' commercial business in a deal worth £47.5m. Parisian insurer Axa said the deal will see around 100 of Aeges' UK employees move into Axa's City of London offices. The acquisition will see Ageas' renewals transfer to Axa from June 2022, meaning the French insurance giant will take over Ageas' future commercial contracts.

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