Saga
Founded in 1951, Saga spent its first 30 years focused on travel, before launching the Saga Magazine and developing home and motor insurance and financial services in the 1980s. Private medical and pet insurance followed in the 1990s, along with the launch of its own cruise ship operation. Today the insurance business including the broking business is the largest part of the Saga Group.
Saga features in the Insurance Age Top 75 UK Brokers listing. Find out what other companies made the cut.
Ageas and Saga in £207.5m deal talks
Ageas has entered exclusive negotiations with Saga on a 20-year affinity partnership and buying Acromas in a package worth up to £207.5m.
Former Acromas suitor Open enters UK market with MGA buy
Australian insurtech Open has entered the UK market with the acquisition of gadget specialist So Sure.
Saga names Mike Hazell CEO as insurance sale rumours resurface
Over 50s specialist Saga has appointed Mike Hazell as group CEO, succeeding Euan Sutherland with immediate effect.
Top 100 UK Brokers 2023: Directory – £100m – £150m
Adrian Flux Group – Lockton – Saga Services (Saga Group) – Simply Business (Travelers) – Staysure Group (TICORP)
Saga pauses sale of insurance arm Acromas as broking profits slip
Saga has decided to “pause” the sale of its underwriting business Acromas Insurance, the over-50s specialist has confirmed.
Saga reveals fall in broking policy sales
Over-50s specialist Saga has reported a 7% drop in home and motor insurance policy sales in its broking division despite customer retention ticking up from 83% to 85%.
Is the MGA motor market braced for casualties amid a perfect storm?
Motor MGAs are suffering as they battle high claims inflation and tougher reinsurance conditions. With more players expected to exit standard motor, Saxon East asks if there is any way the market can navigate this tough terrain?
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.
Saga’s exclusive Acromas sale talks collapse
Talks between Saga and Australian insurtech Open Insurance Technologies to sell underwriting business Acromas Insurance have ended without a deal, the over-50s specialist has confirmed.
Saga in 'exclusive' sale talks with insurtech over Acromas underwriting arm
Over-50s specialist Saga has confirmed that it is in exclusive discussions with Australian insurtech Open to sell its insurance arm Acromas.
Saga confirms underwriting sale talks
Over 50s-group Saga has confirmed ongoing talks to sell its underwriting business Acromas Insurance.
People Moves: 22-26 August 2022
Keeping you up-to-date with the latest insurance moves.
Saga reports drop in broking GWP and profit
The group sold Bennetts in August 2020.
Saga takes pricing director from WTW
Graham Wright joins from Willis Towers Watson where he is currently a senior director.
Saga reports loss after tax of £3.1m
Interim results for H1 2021 highlight group loss but directors flag “robust” numbers as the business looks to recover from £57.1m loss in the same period last year.
Gary Duggan named Tesco Underwriting interim CEO
He replaces Steve Kingshott, who has taken on the Saga CEO position that Duggan vacated in 2020.
Saga appoints CEO
Steve Kingshott joins from Tesco Bank to replace Cheryl Agius who left in January.
Saga Insurance CEO exits
Group CEO Euan Sutherland takes over on an interim basis while the business searches for a replacement for Cheryl Agius, who is stepping down for personal reasons.
CMA forces Ardonagh to u-turn on £26m Bennetts buy
Ardonagh has proposed to reverse the deal and divest of the motor broker following the threat of an “expensive and burdensome” phase two competition probe.
Saga confirms £150m capital raise and investment from ex CEO Sir Roger De Haan
Business also posts pre-tax loss of £55.5m for the first six months of 2020.
Saga announces £150m equity capital raise
Former owner and CEO, Sir Roger De Haan, is expected to invest up to £100m in the business as he returns to the board as non-executive chairman.