Ageas completes the acquisition of Saga's Underwriting Business

Group 1 - The acquisition of Acromas Insurance Company Limited (AICL) by Ageas has been completed following the necessary regulatory approvals [1] - This acquisition marks the beginning of a 20-year partnership with Saga Services Limited for distributing personal lines Motor and Home insurance products [2] - The acquisition aligns with Ageas's Elevate27 strategy, focusing on the growing market of the ageing population, enhancing its position as a leading personal lines insurer in the UK [3] Group 2 - The total consideration for the acquisition is approximately GBP 67 million, to be paid between the acquisition and the operational start date of the partnership [4] - Ageas is a significant player in the European and Asian insurance markets, with a history of 200 years and annual inflows of EUR 18.5 billion in 2024 [5]