Oct 11, 2024 / 08:30AM GMT
Michael Hazell - Saga PLC - Group Chief Executive Officer
Good morning, everybody, and welcome to Saga's results for the six months ended July 31, 2024. I'm Mike Hazell, Group CEO; and I'm joined today by Group CFO, Mark Watkins; and Steve Kingshott, the CEO of Saga Insurance.
Before I begin, I'd like to thank you for being with us today, particularly after the delay to our results while our partnership discussions were continuing.
On that note, you will have seen that today, we released a separate announcement confirming that we are now in exclusive negotiations with Ageas for a proposed transaction. This is a fantastic opportunity for Saga, Ageas and our customers, creating a low-risk business model for home and motor insurance by combining the capabilities of two great businesses.
The move would support our growth ambitions, simplify our business and move us to a more capital-light model in insurance, in line with our stated strategy. The first part of this is the sale of our insurance underwriting business, AICL; and the second is a 20-year affinity partnership with Ageas
Half Year 2024 Saga PLC Earnings Call Transcript
Oct 11, 2024
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