Business
Termination of discussions with Open Insurance
Termination of discussions with Open Insurance.
About this update from Saga Plc
[{"type":"text","content":"\n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.\n \n \n \n \n \n 2 March 2023\n \n \n Saga plc\n \n \n Termination of discussions with Open Insurance\n \n \n \n \n \n Saga plc (Saga or the Group) notes that discussions regarding a possible sale of the Group's underwriting business, Acromas Insurance Company Limited, to Open Insurance Technologies Pty Ltd have terminated without an agreement being reached. Saga will announce its full year results, which\n are expected to be in line with the update provided on 24 January, on 4 April 2023.\n \n \n \n \n \n \n \n \n Enquiries:\n \n \n Saga plc\n \n \n Emily Roalfe, Head of Investor Relations and Treasury +44 (0) 7732 093 007\n \n \n \n \n \n Headland Consultancy\n \n \n Susanna Voyle +44 (0) 203 805 4822\n \n \n Will Smith\n \n \n \n \n \n Numis\n \n \n Luke Bordewich +44 (0) 207 260 1000\n \n \n Charles Farquhar \n \n \n Giles Rolls \n \n \n \n \n \n \n \n \n \n \n \n \n Notes to Editors:\n \n \n Saga is a specialist in the provision of products and services for people over 50. The Saga brand is one of the most recognised and trusted brands in the UK and is known for its high level of customer service and its high quality, award-winning products and services including cruises and holidays, insurance, personal finance and publishing. \n \n \n \n www.saga.co.uk\n \n \n \n \n \n Saga Insurance is the UK's specialist in insurance products for people over 50 in the UK, comprising Retail Broking, which includes principally motor, home, private medical and travel insurance and AICL, the Group's in-house underwriter. AICL sits on Saga Insurance's panel of insurers and underwrites approximately 25-30% of Saga's insurance business. \n \n \n \n \n \n \n \n \n Further information\n \n \n Numis Securities Limited (Numis), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as Financial Adviser exclusively for Saga and no one else in connection with the matters set out in this announcement and will not regard any other person as ...