Saga buys bike broker Bennetts for £26.26m
Deal takes firm up to approximately 20% of UK motorbike insurance market.
Saga has bought motorbike broker Bennetts from BGL Group for £26.26m in cash.
The firm, which specialises in products for the over 50s market, highlighted that Bennetts has over 200,000 customers of which 43% are over 50 years of age.
It added that 77% are over 40 years of age but stressed that it will continue to serve bikers of all ages under the Bennetts brand.
The deal sees Saga buy the entire share capital of Bennetts which reported revenue of £17m and gross written premiums of £31m in the
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