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Ageas to acquire Saga’s underwriting business as part of 20-year partnership
Dec 16, 2024•over 1 year ago
Contract Type
partnership
OuakaFinancial ServicesInsurance
Description
Saga has agreed to a 20-year partnership with Ageas for motor and home insurance, involving the acquisition of Saga’s underwriting business. Ageas will handle various activities as part of the Affinity Partnership, while Saga will retain responsibility for brand and direct marketing. Saga will receive an upfront payment of £80m and contingent considerations of up to £30m. Ageas will pay £67.5m for Saga’s underwriting business, Acromas Insurance Company Limited (AICL).
Company Information
Company
Ageas UK
Location
Ouaka, Central African Republic
About
Ageas UK is a leading insurance company with a focus on life and non-life insurance, and investment banking. They are known for their expertise in risk and governance, and their commitment to customer advocacy.
OuakaFinancial ServicesInsurance