Saga reports stable broking results as it pushes on with Acromas sale

Sale spelled out on keyboard

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.

Premiums

The 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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