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Saga PLC (SAGAG.L)

SAGAG.L on London Stock Exchange

119.20GBp
23 Feb 2018
Change (% chg)

2.20 (+1.88%)
Prev Close
117.00
Open
116.90
Day's High
120.70
Day's Low
115.82
Volume
4,635,056
Avg. Vol
4,565,869
52-wk High
216.13
52-wk Low
108.00

Latest Key Developments (Source: Significant Developments)

Saga names Patrick O'Sullivan as new chairman
Monday, 19 Feb 2018 02:00am EST 

Feb 19 (Reuters) - Saga Plc ::‍APPOINTMENT OF PATRICK O'SULLIVAN AS CHAIRMAN​.‍APPOINTMENT OF PATRICK O'SULLIVAN AS CHAIRMAN WITH EFFECT FROM 1 MAY 2018.​.‍PATRICK IS HUGELY EXPERIENCED IN GROWING BUSINESSES IN FINANCIAL SERVICES AND INSURANCE INDUSTRY. HE HAS BEEN CHAIRMAN OF OLD MUTUAL PLC, FTSE 100 DIVERSIFIED FINANCIAL SERVICES CONGLOMERATE, SINCE JANUARY 2010.​.APPOINTMENT OF PATRICK O'SULLIVAN AS CHAIRMAN.APPOINTMENT OF PATRICK O'SULLIVAN AS CHAIRMAN.  Full Article

Saga Says Ttrading Continues To Be In Line With Guidance
Monday, 12 Feb 2018 02:00am EST 

Feb 12 (Reuters) - Saga Plc ::NEW 80% QUOTA SHARE AGREEMENT WITH NEWRE AND HANNOVER RE​.QUOTA SHARE ‍COVER 80% OF UNDERWRITING RISK OF MOTOR POLICIES OF GROUP'S IN-HOUSE UNDERWRITER, AICL, TO TAKE EFFECT FROM 1 FEBRUARY 2019​.‍NEW QUOTA SHARE AGREEMENT ADDS HANNOVER RE TO OUR CURRENT REINSURANCE PARTNER NEWRE​.DEAL ‍REPLACES OUR EXISTING QUOTA SHARE ARRANGEMENT WHICH IS DUE TO EXPIRE ON 31 JANUARY 2019​.‍NEW AGREEMENT PROVIDES THREE YEARS OF COVER ON A ROLLING BASIS​.‍TRADING CONTINUES TO BE IN LINE WITH GUIDANCE GIVEN IN DECEMBER 2017​.DEAL ‍CONTINUES TO REDUCE SAGA'S EXPOSURE TO UNDERWRITING RISK WHICH ALLOWS GROUP TO MAINTAIN ITS EFFICIENT CAPITAL STRUCTURE​.  Full Article

Saga Plc Says Robin Shaw Appointed To New Role Of CEO Of Saga Travel
Thursday, 4 Jan 2018 02:00am EST 

Jan 4 (Reuters) - Saga Plc ::GROUP EXECUTIVE CHANGES.ROBIN SHAW HAS BEEN APPOINTED TO NEW ROLE OF CEO OF SAGA TRAVEL.FOLLOWING A RESTRUCTURE OF OUR TRAVEL BUSINESS WE ARE COMBINING TOUR OPERATIONS AND CRUISE ROLES.JEANNETTE LINFOOT, MD OF OUR TOUR OPERATIONS, LEFT BUSINESS AT END OF DECEMBER.GARY DUGGAN HAS TAKEN OVER FROM ROGER RAMSDEN AS CEO OF SAGA SERVICES, OUR RETAIL BROKER.  Full Article

Saga Says Expects FY 2018 Underlying PBT Growth Between 1% And 2%
Wednesday, 6 Dec 2017 02:00am EST 

Dec 6 (Reuters) - Saga Plc ::GROUP'S GROWTH IN UNDERLYING PBT 1 IS EXPECTED TO BE BETWEEN 1% AND 2% FOR YEAR ENDED 31 JANUARY 2018."SEEN CHALLENGING TRADING IN INSURANCE BROKING DURING PERIOD AND MONARCH AIRLINES ADMINISTRATION, WHICH HAS AFFECTED OUR TOUR OPERATIONS".FY WRITTEN PROFIT OF OUR RETAIL BROKING BUSINESS IS EXPECTED TO BE AHEAD YEAR ON YEAR, WITH A STRONG PERFORMANCE IN MOTOR.WE NOW EXPECT RESERVE RELEASES TO BE AT A SIMILAR LEVEL TO PREVIOUS YEAR.TOUR OPERATIONS BUSINESS HAS BEEN IMPACTED BY COLLAPSE OF MONARCH AIRLINES WITH AN APPROXIMATE ONE-OFF COST OF £2 MILLION.WILL REALISE APPROXIMATELY £10 MILLION OF ANNUALISED SAVINGS NEXT YEAR.EXPECT TO INCUR A ONE-OFF COST OF CIRCA £4 MILLION RELATING TO THESE CHANGES, EXCLUDED FROM UNDERLYING PBT.  Full Article

Saga ‍Chairman announces intention to retire
Tuesday, 24 Oct 2017 02:00am EDT 

Oct 24 (Reuters) - Saga Plc ::‍SAGA CHAIRMAN ANNOUNCES INTENTION TO RETIRE AND BOARD LAUNCHES SEARCH FOR SUCCESSOR​.‍CHAIRMAN ANDREW GOODSELL HAS NOTIFIED BOARD OF SAGA PLC THAT HE INTENDS TO RETIRE FROM COMPANY DURING 2018​.‍SENIOR INDEPENDENT DIRECTOR, ORNA NICHIONNA, WILL INITIATE A PROCESS TO APPOINT HIS SUCCESSOR AS CHAIRMAN WITH IMMEDIATE EFFECT​.  Full Article

Insurer Saga on track to meet full-year targets, half-year profits up
Friday, 22 Sep 2017 02:07am EDT 

Sept 22 (Reuters) - Saga Plc ::Interim results for six months ended 31 July 2017.  Full Article

Saga remains well positioned to deliver against strategic objectives
Thursday, 22 Jun 2017 02:00am EDT 

June 22 (Reuters) - Saga Plc ::Trading statement.Core insurance and travel businesses have continued their good start to year with backdrop of a changing political and economic environment.Remains well positioned to deliver against strategic objectives set out at its capital markets event on March 29.  Full Article

Saga announces refinancing of existing bank facilities
Wednesday, 10 May 2017 02:38am EDT 

May 10 (Reuters) - Saga Plc ::Announces a refinancing of existing bank facilities.Launch of a debut 250 mln stg seven year senior unsecured bond, a 200 mln stg five year term loan facility and a 100 mln stg five year revolving credit facility.  Full Article

UK insurer Saga's FY underlying pretax profit rises
Wednesday, 29 Mar 2017 02:00am EDT 

Saga Plc : FY preliminary results for full year ended 31 january 2017 . FY underlying profit before tax £187.4 mln versus £177.4 mln year ago . Proposed full year dividend 8.5p versus 7.2p year ago . FY underlying profit before tax, excluding derivative gains and Ogden discount rate impact increased by 5.6% . FY strong performance in competitive environment with significant improvement in motor . FY broking profit per customer grew 5.7% to £46 (FY 2016: £43.5) . Confidence in continuing to deliver a consistent financial performance in 2017 is strong . Overall, we have seen a very positive start to year on motor premiums, with strong upwards movement on new business . Currently running in excess of claims inflation, and sets us on a strong footing to improve motor broking profits during year . Another tough year for home market, particularly given benign weather conditions over winter period . Travel insurance demand is stable . Overall, we remain positive on trading for our retail broking business for coming year .General economic confidence amongst our customers remains strong post Brexit vote.  Full Article

Saga sees FY results in-line with expectations
Wednesday, 11 Jan 2017 02:00am EST 

Saga Plc : Trading update & notice of results . Provides following update on trading covering period from 1 August 2016 to 10 January 2017 . Has continued to trade strongly in second half of year, and is on course to meet its expectations for full year . Business continues to perform well, with our core insurance and travel divisions both demonstrating consistency in delivering robust results-CEO .Expect to report results in line with our expectations for full year-CEO.  Full Article

Britain's Saga appoints Patrick O'Sullivan as chairman

Feb 19 Saga Plc, a British tourism and insurance group for the over-50s, said it had appointed Patrick O'Sullivan as chairman, with effect from May 1.