March 29, 2017 / 6:24 AM / 5 months ago

BRIEF-UK insurer Saga's FY underlying pretax profit rises

March 29 (Reuters) - Saga Plc

* FY preliminary results for full year ended 31 january 2017

* FY underlying profit before tax £187.4 mln versus £177.4 mln year ago

* Proposed full year dividend 8.5p versus 7.2p year ago

* FY underlying profit before tax, excluding derivative gains and Ogden discount rate impact increased by 5.6%

* FY strong performance in competitive environment with significant improvement in motor

* FY broking profit per customer grew 5.7% to £46 (FY 2016: £43.5)

* Confidence in continuing to deliver a consistent financial performance in 2017 is strong

* Overall, we have seen a very positive start to year on motor premiums, with strong upwards movement on new business

* Currently running in excess of claims inflation, and sets us on a strong footing to improve motor broking profits during year

* Another tough year for home market, particularly given benign weather conditions over winter period

* Travel insurance demand is stable

* Overall, we remain positive on trading for our retail broking business for coming year

* General economic confidence amongst our customers remains strong post Brexit vote Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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