Saga to sell Bennetts Motorcycling Services for £26m

Over-50s specialist Saga has agreed to sell motorcycles insurance broker Bennetts for £26m.

The business will be sold to Atlanta, which is part of the Ardonagh Group, one of the largest independent insurance brokers in the UK.

Chief executive officer Euan Sutherland said: "As Saga seeks to focus on our core branded business, I am pleased to announce we have agreed the sale of Bennetts. This is a good outcome for Saga shareholders and Bennetts customers who will find a good home in the Ardonagh Group."

Completion is subject to regulatory approval and other closing conditions.

At 0940 GMT, Saga shares were down 1.8% at 43.76p.