Saga shares plunged 7% today amid a profit hit from the coronavirus.

The group said it will take an earnings hit amid struggles in its cruise ship business from the virus.

The cruise ship-operator said it had seen a “higher level of cancellations for departures in the near-term and more generally a lower level of bookings for departures further out”.

The insurance business will be unaffected, Saga said today.

Saga’s share price has been on the slide since crashing to a £134.6m loss last year amid the FCA pricing crackdown and a shake up in its renewals strategy.

The firm is battling claims inflation, reported at a similar level to Hastings. 

Last month, it sold the motorbike broker Bennetts to Ardonagh for £26m.

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Coronavirus not covered under standard business interruption policies - Aviva 

 

 

 

 

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.