Ageas and Saga seal £207m partnership and Acromas deals
Ageas and over-50s specialist Saga have signed on the dotted line agreeing a 20-year partnership for motor and home insurance and the sale of Saga’s underwriting business, Acromas.
Discussion between the pair were first revealed at the start of October with the potential £207.5m package price confirmed a week later.
Ageas will pay Saga £80m upfront for the affinity partnership with its broking business, two payments of up to £30m are due in 2026 and 2032 depending on performance.
For the six months to 31 July, broking business Saga Services generated £234.2m of gross written premium in motor and home with 1.21m policies in force.
RelatedBroking profits fall at SagaIn
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