Saga and AA announce intention to merge
The UK personal lines market could be dramatically transformed following the announcement by over-50...
The UK personal lines market could be dramatically transformed following the announcement by over-50s specialist Saga that it intends to merge with the AA, forming a £6bn corporate entity.
Saga is majority owned by private equity house Charterhouse, and the AA by private equity firms CVC and Permira.
The move came after Damon Buffini, founder of Permira, faced a Treasury Select Committee investigation into the dealings of private equity firms.
The AA is one of the biggest personal lines brokers in
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