Friday, March 25, 2011

Watch out Saga – Ageas is coming to get you

I had just started to write a blog posting about the new events programme that RIAS (the 50-plus insurance company) is undertaking this year when I read another news release that Ageas UK, its parent company, announced its acquisition of Castle Cover Limited – another company specializing on the older market.

The press release goes on to say that the purchase will increase its customer numbers to around 8 million and that the acquisition underlines Ageas UK’s position as the fourth largest personal lines broker in the UK. With around 280,000 customer policies, the reported revenue of Castle Cover in 2010 was £22 million and would bring Ageas’s total retail revenues to around £200 million. 

This will give the guys at Saga something to think about. Dick Stroud

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