Acromas sells 13% stake in insurer to institutional investors
Saga’s largest shareholder has cut its stake to 32% of the company from 45%.
Private equity-backed investment company Acromas said it has sold 145 million Saga shares to financial institutions at a price of 200 pence a share.
Shares in the over-50s insurer closed at 212 pence yesterday.
Acromas floated Saga on the stock market in May 2014, and has been selling down its stake ever since.
Acromas sold a 6% stake in February this year, 11% in May and 6% in July.
Shares in Saga fell 5% in early trading on news of the share placing. Saga shares have risen more than 40% since the start of the year.
Acromas is owned by funds managed by private equity firms Charterhouse, CVC and Permira.
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.
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.
No comments yet