Ageas and over-50s specialist Saga have signed on the dotted line agreeing a 20-year partnership for motor and residential insurance coverage and the sale of Saga’s underwriting enterprise, Acromas.
Dialogue between the pair had been first revealed at first of October with the potential £207.5m package deal value confirmed per week later.
Ageas can pay Saga £80m upfront for the affinity partnership with its broking enterprise, two funds of as much as £30m are due in 2026 and 2032 relying on efficiency.
For the six months to 31 July, broking enterprise Saga Companies generated £234.2m of gross written premium in motor and residential with 1.21m insurance policies in drive.
RelatedBroking income fall at Saga
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