Bain Capital-backed insurer Esure Group is anticipating further growth after completing a £200m ($258m) transformation programme across its technology, operations, and culture, according to CEO David McMillan in an interview with Bloomberg.

The company reported a 14% increase in turnover to £1.1bn for 2024, with trading profit reaching £126.8m, reversing a loss from the prior year. Digital transformation has been a core driver of performance, with 80% of customer interactions now conducted online—more than double the previous levels.

Founded in 2000, Esure serves two million customers through its main brand, as well as Sheilas’ Wheels and First Alternative. It was listed in 2013 before being taken private by Bain Capital in a £1.2bn acquisition five years later.

Bloomberg reported in October that the insurer’s financial recovery has revived takeover interest. Sources familiar with the matter said binding bids are expected by April 7. Allianz SE, Sampo Oyj (owner of Hastings Group), Belgium’s Ageas, Allstate Insurance, and GEICO have all been named as potential bidders. Discussions are still in progress, and there is no certainty that any final offers will be made.