Saga’s retail broking operation saw profit before tax drop 19.1% for the full 12 months to January 2019.
Saga has also announced an expected reduction in profits for the current financial year, a reduction in the dividend and a write-down to its Insurance business – reflecting long-term challenges in the market.
In its preliminary results underlying profit before tax for retail broking was £105.8m (2018: £130.7m). Former Broker Network chief Gary Duggan was appointed to lead the retail broking
- Three insurance firms on FSCS insolvency list
- Aston Lark confirms Goldman Sachs investment deal
- Blanc expects Goldman Sachs to invest in Aston Lark for 'at least five years'
- Aspen Risk Management to be placed in runoff
- Esure hires former Aviva UKGI boss David McMillan as CEO
- Aviva continues to top Brokerbility members survey
- Aston Lark on cusp of £320m Goldman Sachs investment