Belgium's Ageas in exclusive talks for insurance broking partnership with UK's Saga

Belgian insurer Ageas is in exclusive talks to set up a 20-year motor and home insurance broking partnership with British over-50s holiday group Saga, the two companies said on Friday. Under the deal, Ageas would also buy Saga's insurance underwriting business for 67.5 million pounds ($88.1 million). The partnership would see Ageas UK operate Saga's motor and home products broking business, which distributed products with gross written premiums of more than 479 million pounds in the year to July 31, 2024, the companies said.