Saga plc (GB:SAGA) has released an update.
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Saga Plc is in exclusive talks with Ageas SA/NV to form a 20-year motor and home insurance partnership and sell its underwriting business, aiming to utilize both companies’ expertise and market presence to benefit the over-50 customer segment. The potential deal includes an upfront payment of £80m to Saga, with additional contingent considerations, and the acquisition of Saga’s underwriting arm by Ageas for £67.5m, both subject to regulatory approvals. This strategic move is designed to boost Saga’s growth, enhance shareholder value, and transition to a capital-light business model.
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