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.
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