Saga is a well-recognised, classic British brand, providing products and services tailored for people aged 50 and over. The Company has been built on the highest standards of customer care, value for money and talking directly to its customers. The Saga brand embodies those core values today and is one of the most trusted brands among people aged over 50 in the UK.

By focusing on the needs of its customers, Saga has gained a unique insight and an in-depth understanding of the over 50s which has enabled it to expand its business and tailor its products specifically for its customers. Initially established as an out-of-season holiday provider in 1950, Saga has successfully broadened its product and service offering to range from cruises and holidays, home and motor insurance, savings and share dealing through to the UK’s best-selling Saga Magazine. Saga also provides domiciliary and primary healthcare services through Allied Healthcare, which is part of the Group.

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Saga traded in line with expectations in the four months to 31 May 2018. The company said its targeted investment in customer growth is driving both Saga branded policy count and cruise bookings.

Saga branded retail insurance policies increased by approximately 1% year on year, supported by 30% and 14% growth in motor and home new business policies, respectively. Total retail insurance policies for the period are flat as a result of closing the Direct Choice brand in 2017.

The motor and home markets remain competitive, but Saga continue to write new business on attractive terms with direct marketing channels representing the majority of new business volumes.

The company reported its underwriter continues to perform well with motor claims costs are in line with expectations despite the snow and icy weather conditions experienced during the period as customers are able to defer journeys.

Tour bookings for 2019/20 departures are flat year on year with recent positive momentum.

Bookings for the new cruise ship, Spirit of Discovery, are now over 55% of the sales target for the first nine months from June 2019, at attractive yields.

Possibilities, the new membership scheme, now has 740,000 members, as at 17 June 2018.

CEO Lance Batchelor said: "We have seen good momentum this year across our travel and insurance businesses, particularly in new motor and home insurance policies, underwriting performance and bookings for our new cruise ship, Spirit of Discovery.

"All of this underpins our confidence that we have put in place the right investment to drive the Saga business forward."

The company's interim results will be announced on 27 September 2018.