Belgian insurer Ageas and UK-Saga enter exclusive talks for a 20-year motor and home insurance partnership, with Ageas acquiring Saga's underwriting business for £67.5M.

Belgian insurer Ageas and UK-based Saga are in exclusive negotiations to form a 20-year partnership focused on motor and home insurance broking. Ageas will acquire Saga's underwriting business for £67.5 million ($88.1 million), aiming to enhance its UK market presence. Saga reported a wider pre-tax loss of £104 million in the first half, despite a 13% revenue increase to £404.8 million, while maintaining its profit outlook for the year.