Saga reports drop in broking GWP and profit
The group sold Bennetts in August 2020.
Saga has posted a 3.1% fall in retail broking gross written premiums to £563.6m for the year ended 31 January 2022.
Revenue on written business fell 4.5% to £183.7m with retail broking underlying profit before tax dropping 9.8% to £66.6m.
The business sold motorcycle broker Bennetts to Ardonagh in August 2020 – the consolidator eventually sold it on to Right Choice after the Competition and Markets Authority opened an investigation into the deal.
The breakdown of Saga’s figures showed the
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