Ageas: in partnership negotiations with Saga

(CercleFinance.com) - Ageas announces that it has entered into exclusive negotiations with a view to strengthening its partnership with Saga plc, the UK-based provider of products and services to the rapidly expanding over-50s customer segment.


This would involve the creation of a 20-year partnership with Saga Service Ltd to distribute personal motor and home insurance products to Saga's customers. In addition, Ageas would acquire Saga's insurance underwriting business, Acromas Insurance Company Ltd.

Based on the initial consideration and after capital synergies, the estimated impact on Ageas' solvency is -5%. The proposed transaction will not affect the Belgian insurance company's current share buyback program.


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