UK's Saga rises after underwriting business sale, partnership with Ageas
16/12/2024 08:21
** Shares of Saga SAGA.L up 5.3% at 130.2p
** The British holiday group enters into a 20-year motor and
home insurance partnership with UK units of Belgium's Ageas
AGES.BR
** Ageas will pay Saga 80 mln pounds ($101.04 mln) upfront
under the partnership and acquire its Insurance Underwriting
business for 65 mln pounds, Saga said
** Ageas will take on price-comparison website distribution,
pricing and underwriting, claims and customer servicing
activities, while Saga will retain marketing responsibilities
** SAGA shares down ~11% YTD
($1 = 0.7918 pounds)
(Reporting by Yamini Kalia in Bengaluru)
((Yamini.Kalia@thomsonreuters.com;))