Saga Group could be on the verge of a £2bn flotation or sale, according to reports.
The travel and financial services giant, which was acquired by Charterhouse Capital Partners for £1.35bn in October 2004, has been the focus of a number of unsolicited offers according to The Telegraph.
Saga runs one of the largest books of personal lines policies in the UK and underwrites its own motor book from Gibraltar. The group's insurance services constitutes approximately three quarters of its overall business.
However, Paul Green, head of communications at Saga Group, told Insurance Times that the report in the Telegraph was “purely speculation”, adding that while it was flattering to be considered such an attractive target it would not in any way distract the company from its primary focus, “serving the needs of our 2 million customers”.
