Saga reports stable broking results as it pushes on with Acromas sale
Saga is targeting the sale of its underwriting business, Acromas Insurance, in the second half of this year – but arranged a loan in case a deal does not go through.
Exclusive talks with Australian insurtech Open Insurance Technologies to sell the group’s in-house underwriter broke down last month.
According to the over-50s specialist, if there is no disposal then as of 1 January 2024 it will be able tap into a £50m loan from founder and ex-chief executive Sir Roger De Haan, who invested in the business again in 2020.
PremiumsThe news came as the firm reported gross written premiums in broking of £563.1m for the year ended 31 January 2023, inline with
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