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UK insurer Saga's FY profit jumps 55 percent

Published 19/04/2016, 07:51
© Reuters.  UK insurer Saga's FY profit jumps 55 percent
SAGA
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(Reuters) - British over-50s travel and insurance company Saga (L:SAGAG) said full-year pretax profit jumped 55 percent, driven by a surge in demand for its travel and insurance services.

The company, which listed on the London Stock Exchange in May 2014, said pretax profit rose to 176.2 million pounds ($252.4 million) in the year ended Jan. 31, from 113.8 million pounds a year earlier.

On the new European capital rules for insurers that came into effect in January, Saga reported a Solvency II ratio of 170 percent.

The company said it would pay a full-year dividend of 7.2 pence per share, up from 4.1 pence last year.

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