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Ageas to enter exclusive negotiations to establish long-term partnership with Saga plc

Oct 11, 2024•9 months ago

Acquiring Company

Ageas Federal Life Insurance

Acquired Company

Saga plc

MumbaiUnited KingdomInsuranceFinancial ServicesTravel

Description

Ageas has entered into exclusive negotiations with Saga plc to establish a 20-year partnership with Saga Services Limited for the distribution of personal lines Motor and Home insurance products to Saga's customers. Additionally, Ageas would acquire Saga's Insurance Underwriting business, AICL, aligning perfectly with Ageas’s strategy to accelerate solutions targeted at an ageing population, while enhancing its position as a leading personal lines insurer in the UK.

Company Information

Company

Ageas Federal Life Insurance

Location

Mumbai, Maharashtra, India

About

Ageas is an international insurance group with a heritage spanning almost 200 years. It offers Retail and Business customers Life Protection, Pension, Saving, and Investment products designed to help people protect and enhance their financial future.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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