Ageas UK and Saga Services Limited (SSL) have entered into a 20-year relationship to offer personal motor and house insurance products specifically designed for Saga's UK clientele. With regulatory permits pending, the partnership is anticipated to start in Q4 2025. Ageas UK will also purchase Acromas Insurance Company Limited (AICL), Saga's insurance underwriting division, as part of the agreement.

Ageas CEO Hans De Cuyper said, "We are very pleased to announce the signing of the agreement with Saga," expressing excitement for the collaboration. We want to further our collaboration for the good of both businesses and the client. The Ageas Group's newly announced Elevate27 strategy, which intends to capitalize on our strong European footprint in non-life, expand our company size, and gain from capital diversification, is ideally aligned with this purchase.

"This agreement marks an important milestone in the development of Ageas UK and we are excited about the opportunities this partnership brings," said Ant Middle, CEO of Ageas UK, highlighting the arrangement's significance.

"We will be able to better serve the expanding over-50s clientele thanks to our combined strengths, and I have no doubt that this partnership will spur more innovation and competition, which will be advantageous to all of our stakeholders." I want to express my gratitude to the Saga management team in particular for their commitment and cooperation during this process.

With more than 200 years of experience, Ageas is a multinational insurance company that offers both life and non-life insurance products to both retail and corporate customers. Ageas, which operates widely throughout Europe and Asia, employs over 50,000 people and recorded yearly inflows of over €17 billion in 2023. In a number of areas, including Belgium, the UK, Portugal, Turkey, and numerous Asian nations, it is acknowledged as the market leader.