Feb 12 (Reuters) - Saga Plc:
* NEW 80% QUOTA SHARE AGREEMENT WITH NEWRE AND HANNOVER RE
* QUOTA SHARE COVER 80% OF UNDERWRITING RISK OF MOTOR POLICIES OF GROUP’S IN-HOUSE UNDERWRITER, AICL, TO TAKE EFFECT FROM 1 FEBRUARY 2019
* NEW QUOTA SHARE AGREEMENT ADDS HANNOVER RE TO OUR CURRENT REINSURANCE PARTNER NEWRE
* DEAL REPLACES OUR EXISTING QUOTA SHARE ARRANGEMENT WHICH IS DUE TO EXPIRE ON 31 JANUARY 2019
* NEW AGREEMENT PROVIDES THREE YEARS OF COVER ON A ROLLING BASIS
* TRADING CONTINUES TO BE IN LINE WITH GUIDANCE GIVEN IN DECEMBER 2017
* DEAL CONTINUES TO REDUCE SAGA’S EXPOSURE TO UNDERWRITING RISK WHICH ALLOWS GROUP TO MAINTAIN ITS EFFICIENT CAPITAL STRUCTURE Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)
