UK's Saga shares soar on exclusive insurance talks with Belgium's Ageas

Published on: Thursday 10 October 2024

LONDON (Reuters) -Shares in Saga soared 11% on Friday after the British over-50s holiday group and Belgian insurer Ageas said they were in exclusive talks to set up a 20-year motor and home insurance broking partnership and after Saga reported underlying profits which more than tripled from a year earlier. Under their deal, Ageas would also buy Saga's insurance underwriting business for 67.5 million pounds ($88.1 million). Ageas, which abandoned attempts to take over British insurer Direct Line earlier this year, is looking to build on its non-life presence in Europe, and focus on products for an ageing population, it said in a statement.

News source: https://finance.yahoo.com/news/belgiums-ageas-exclusive-talks-insurance-071627941.html

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UK's Saga shares soar on exclusive insurance talks with Belgium's Ageas