Saga warns on profit, slashes dividend on insurance woes
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(Reuters) - Saga Plc on Thursday forecast lower annual underlying pretax profit and cut its dividend as the over-50s tourism and insurance firm struggles to keep up in a competitive motor and home insurance sector.The company, which operates the cruise ship Saga Pearl, said it expects underlying profit before tax for fiscal 2019-20 to be between 105 million pounds to 120 million pounds, hurt by lower margins in insurance, a change in approach to renewal pricing, lower reserve releases and..