Saga sees 32% growth in insurance arm
Saga has recorded profit before tax of £81.6m (up 62.5%) on turnover of £382.7m in the 12 months to 31 January 2004. The group’s insurance and financial services division, Saga’s largest contributor to earnings, accounted for 89.1% of total group profit before central costs and radio start-up losses. Turnover for the division increased by 32% from £125m to £165m.
The company said that during 2003/04 1.9 million insurance policies were issued by Saga. In a statement it added: “Over the last 5 years, motor insurance has represented a key area of growth, withOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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