Ageas closes Saga deal

Ageas announced that it successfully concluded the exclusive negotiations with Saga, the UK specialist provider of products and services for individuals aged over 50.

The agreement includes the establishment of a 20-year partnership between Ageas UK and Saga Services Limited for distributing personal lines Motor and Home insurance products to Saga’s customers in the UK. The partnership is targeted to go live in Q4 2025. Additionally, Ageas UK will acquire Saga’s Insurance Underwriting business, Acromas Insurance Company Limited. The completion of the AICL transaction remains conditional on regulatory approvals.

“We are very pleased to announce the signing of the agreement with Saga. We anticipate advancing our partnership to benefit both companies and the customer. This deal perfectly aligns with the Ageas Group’s recently launched Elevate27 strategy, which aims to leverage our strong European presence in Non-Life, increase our business scale, and benefit from capital diversification.” – Hans De Cuyper, CEO of Ageas.

“This agreement marks an important milestone in the development of Ageas UK and we are excited about the opportunities this partnership brings. Our combined strengths will enable us to serve the growing over 50s customer segment even more effectively, and I am confident that this collaboration will drive increased innovation and competitiveness, benefiting all our stakeholders. In particular, I would like to extend my thanks to the management team at Saga for their dedication and collaboration throughout this process.” – Ant Middle, CEO of Ageas UK .