UK's Saga shares drop to record low after profit warning [Financial Post (Toronto, Ontario, Canada)]
ADMIRAL GRP PLC UNSP/ADR (AMIGY)
NASDAQ:AMEX Investor Relations:
admiralgroup.co.uk/node/5.html
Company Research
Source: Financial Post
Best baking tools, according to “The Icing Artist,” Canada's YouTube cake decorating star Advertisement Saga, which sells cruise holidays as well as insurance to over 50-year-olds, said its underwriting business has experienced high levels of claims inflation, currently around 13%, increasing costs and hitting profitability. “Trading conditions in the UK insurance market continue to be challenging,” Chief Executive Euan Sutherland said in a statement. Shares in the company plunged as much as 25% to a record low of 101.1 pence, before paring losses. By 0854 GMT shares were down 15%. “Insurance has been the bane of its existence for many years, and big plans to grow the travel arm have been derailed by COVID,” AJ Bell analyst Russ Mould wrote in a note. “Something about its current formula isn't right, although it's fair to say that some events have been out of its control.” Motor insurers such as Admiral Group, Direct Line and Sabre Insurance, which have all previously w
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