** Shares of Saga SAGA.L up 5.3% at 130.2p
** The British holiday group enters into a 20-year motor and home insurance partnership with UK units of Belgium's Ageas AGES.BR
** Ageas will pay Saga 80 mln pounds ($101.04 mln) upfront under the partnership and acquire its Insurance Underwriting business for 65 mln pounds, Saga said
** Ageas will take on price-comparison website distribution, pricing and underwriting, claims and customer servicing activities, while Saga will retain marketing responsibilities
** SAGA shares down ~11% YTD
($1 = 0.7918 pounds)
(Reporting by Yamini Kalia in Bengaluru)
((Yamini.Kalia@thomsonreuters.com;))
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