Ardonagh picks up selected renewal rights from Ageas Retail in £7m deal
Ageas says sale to Autonet gives customers peace of mind across Kwik Fit Insurance Services, Auto Direct, Cover Direct and Regal.
Ardonagh Group has paid £1.75m for the right to renew a number of business lines from Ageas Retail.
The deal was struck in late February and could see Ardonagh pay up to a further £5.25m this July depending on “the number of policies transferred to the group”.
The payments were revealed in Ardonagh’s strategic report for its 2017 results as the group posted rising income but a net loss.
Discussing the results yesterday (18 April) CEO David Ross said the business was looking at £500m worth of
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