Saga posts annual results

Saga plc has announced its preliminary results for the year ended 31st January 2022. Its retail broking division posted a profit before tax of £66.4m for the year, down 12.5% on the previous year. Its underwriting division recorded a profit before tax of £54.1m, down 7.8% on last year’s number.

Euan Sutherland, group chief executive officer of Saga, said in her result’s statement: “During 2021/22, we made strong progress in strengthening the Insurance business and ensuring that we continued to deliver exceptional experiences for our customers.

“The Retail Broking business delivered a second year of positive momentum with 1.4% growth in motor and home policies after several years in decline, supported by increased customer retention.

“Our in-house underwriter, Acromas Insurance Company Limited, reported positive momentum following action taken to strengthen our pricing capability and expand our footprint. AICL policies in force in relation to the Saga book, at 31 January 2022, were 3% ahead of the prior period, the first year of policy growth since 2012.”

    Share Story:

YOU MIGHT ALSO LIKE