Saga is a wake-up call for UK insurers aimeedonnellan
Saga said on April 4 it expected annual underlying pre-tax profit to be between 105 million pounds and 120 million pounds in the 2019-20 financial year. That compares with 180.3 million pounds for the financial year to Jan. 31, 2019.
The company, which specialises in products and services for those aged over 50, cut its final dividend to 1 pence per share compared with 6 pence last year. Saga said it was overhauling its strategy in response to increasing challenges in the markets in which it operates, especially in insurance.
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