Saga reveals fall in broking policy sales

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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%.

The decline for the four months to 31 May, came as total policy sales across all insurance broking products dipped 6% compared with the same period last year with the business acknowledging “a challenging market”.

The remainder of Saga’s offering consists predominantly of private medical and travel insurance.

In contrast to the performance in motor and home Saga flagged a 6% rise in travel policies over the comparable four-month periods. The trading update ahead of its annual general meeting

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