Source: Reuters

Saga, which specialises in packages for people over 50, has faced challenges in its insurance business and taken steps, including increasing prices and reducing staff to control costs, while Ageas has been trying to build its presence in Britain.

Shares in Saga rose as much as 14.6% to 129 pence in morning trade. They are down 18% so far this year. The potential partnership with Saga follows an unsuccessful attempt by Ageas to buy its British competitor Direct Line in a 3.17 billion pound ($4.21 billion) takeover in March.

Ageas, which presented a new strategic plan in September, is aiming to capitalise on the growing demand for pension and savings products from aging populations in Europe and Asia.

Read the full article: https://www.reuters.com/business/finance/saga-talks-with-belgiums-ageas-insurance-partnership-sky-news-reports-2024-10-01/