Grey pound making headline LONDON (Alliance News) - FTSE 250-listed financial services provider Saga PLC on Wednesday said it has struck a deal to buy motorbike insurer Bennetts for GBP26.3 million in cash. Saga will buy Bennetts, which provides motorbike insurance to more than 200,000 customers, from owner BGL Group. Bennetts reported revenue of GBP17 million and gross written premiums of GBP31 million for the year to the end of June 2014. "We are delighted to add Bennetts to Saga's portfolio of highly-regarded brands. This fits with our strategic ambition to drive growth through our insurance broking operations. Bennetts sits perfectly within our business model: a capital light, cash generative business that will seamlessly integrate with our database to quickly deliver tangible returns," said Saga Chief Executive Officer Lance Batchelor. 77% of Bennetts customers are over 40
I doubt if it will make much difference.......Saga are more than twice as much as Aviva for my car and Bike Team beat all the insurers easily when it comes the bike.
Saga were by far the cheapest for both my car and bike insurance at the last renewal... However, if their bike insurance is going to be done by Bennetts in the future then they can shove it - I'd rather pay more and not have to deal with that bunch of incompetent half-wits !
Saga come out top or close to it in all the consumer surveys (generally along with NFU) so one can only hope that they take over the running of B£$%£$%s.
