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Saga enters into 20-year partnership with Ageas for insurance products

Dec 16, 2024•over 1 year ago

Contract Type

partnership

LondonFinancial Services

Description

Saga has announced a 20-year partnership with Belgian insurance giant Ageas to operate its home and motor insurance products, claims, pricing, underwriting, and price-comparison website activities. Ageas will pay Saga £80 million upfront, with potential additional payments based on specific policy volume and profit targets. Additionally, Ageas has agreed to acquire Saga's Acromas insurance underwriting business for £65 million.

Company Information

Company

Saga

Location

London, England, United Kingdom

About

Welcome to Saga. Follow us to learn about life in our business and our unique range of products for people over 50. We are a dynamic and forward-looking business with a clear, single-minded purpose; to create exceptional experiences every day whilst being a driver for positive change in our markets and communities. Our focus on exceptional experiences empowers our colleagues to create moments that are simple, personal and special for our customers and for each other. Our values underpin our approach and help guide us to deliver our purpose. We work with precision pace, curiosity, empathy and collaboration to create a unique environment for our team. And as our customers regularly tell us, “We’re not old, we’re experienced”, which is why we’re changing the way age is discussed in the UK today. It’s time for us to celebrate experience. Saga. Experience is Everything.

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