Saga Share Discussion Threads

[edmondj] 18/7/2019 17:46

Latest customer realities re. claims:

Barrie Irving
3 reviews

2 hours ago

Saga house insurance Saga are very poor I am now in the 5th month after a house fire. We had 1 builder turn up who was a cowboy, when I complained about his work a independent surveyor inspected the work and condemned it. Nothing has happened since then. Saga insured me through Ageas who take your money but don't pay out. I rang saga for there help in this claim, they are a total waist of time Saga have customer support, under wright department and claims intervention team, all have not got a clue how to help me. Even the last resort of there intervention team told me they cannot intervein they can only advise, there advice is contact your insurance Ageas. So Saga just take your money and do very little, they are of no help. Why use Saga ? there is no reason at all, go direct to a insurance company your self and save money. I will never use Saga again.


Gill Ingram
10 reviews

9 hours ago

Very unhappy with Saga. I have never had to claim on my home insurance policy with any company. However, my fridge freezer malfunctioned and as a consequence everything in there defrosted and had to be thrown away. I had to unplug the freezer for safety reasons and this seems to be the ‘get out’ clause for them. I always understood that water and electricity do not mix, but the unplugging of the appliance is deemed a deliberate act on my part???? and therefore my cover accidental or otherwise is useless.

I will not be renewing as this cover is unfit for purpose.

[sharebuddy1] 18/7/2019 16:58

A very good day of consolidation today considering the massive rise yesterday. Interesting times ahead and I think most of the good times are ahead. Elliot are not fools and would not invest if they didn’t think there was good money to be made either as a simple investor or as a more hands-on partner.

[rem108] 18/7/2019 16:55

RNS :Saga plc confirms that on 17 July 2019 Link Market Services Trustees (Nominees) Limited, acting as trustee of the Saga plc Share Incentive Plan Trustee (the 'Trustee'), completed the purchase in the market of a total of 2,035,246 Ordinary shares of nominal value 1 penny each in the capital of the Company. The purchase took place on 17 July 2019 and the share price was GBP0.462 per share.

[ny boy] 18/7/2019 12:26

Cheap as chips, the US fund lit the green touch paper, happy to tuck these away.

[husbod] 18/7/2019 11:13

Nice place Ludlow erogenous - used to go there for the festival, have several pints of proper beer in the Church and then fall asleep during a Shakespeare play in the castle. Very civilised.My house is a few hundred feet above the Taff with a railway line in between but only about 50 metres away as the crow flies but Direct Line didn't see a flood risk. Haven't tried Saga.

[sbb1x] 18/7/2019 10:40

On the chart , shows a gap was created 42 - 44p might back test that peeps

[pete160] 18/7/2019 09:32

I suspect the included cover was misnamed and should have been devolved as 'some legal protection'As with all insurance, comparing like for like is very tricky - but essential

[edmondj] 18/7/2019 09:07

Much also on FT Alphaville re. SAGA/Elliott, "an awkwardly large pile of money looking for easy public market kills that we euphemistically call an activist hedge fund":

[edmondj] 18/7/2019 09:04

Hedge fund Elliott Management was the most prolific shareholder activist in 2018 — but its track record is less stellar.

Last year, the Paul Singer-led fund launched 22 campaigns for seats on corporate boards, making it the biggest player in the activist category, according to Lazard.

Of those 22 campaigns, 13 have seen their stocks trend higher than the day before Elliott publicly entered the fray, while eight are trading below. (One of the companies was not counted because it is tied too closely with another company on the list.)

That’s a success rate of 62 percent.

“On the surface, you’d think they should do better than that,” another fund manager said, noting that shareholders tend to pile into stocks after activist campaigns are announced.

The biggest winner was British broadcaster Sky at 67 percent.

The biggest loser is Telecom Italia, down roughly 30 percent.

The $34.7 billion fund’s returns gained just over 2 percent in 2018 at a time when many funds tanked, according to a report released by LCH Investments last month.

[gareth004] 18/7/2019 09:03

Looking good for me

[edmondj] 18/7/2019 08:56

Legal protection was standard from Churchill when I switched to them in April from AA.

They are all adjusting in a hyper-competitive space.

[momentum1] 18/7/2019 08:54

Technical breakout confirmed here at 49.36p. Expecting this into the mid 50s this afternoon. News was excellent yesterday.

[buywell2] 18/7/2019 08:50

Time to press the sell button folks IMO


50p chartwise IMO is it


dyor

[dr biotech] 18/7/2019 08:47

Its quite easy to do some research into this. I've just gone to the saga website and put in some random details for a quote (I'm not in their target age group). I've been given two quotes

For 1 year I can get Saga Essential for 213.49 (thats actually a decent quote for me). Thats just 1 year of fully comp insurance and no extras. For 3 years its 262.04 - that includes legal protection (normal cost about 25-30pa)"accident healthcare" (medical expenses if accident is in the UK. I'm not really sure what thats worth if anything) and "onward travel" - thats only in the event of an accident, not a breakdown. If I had the legal protection then the premium is around 5-10% for the 3 year quote over the single year.

So if you like your insurance with extras, its not a bad deal. If you like the minimum its probably not for you.

[husbod] 18/7/2019 08:45

Good point by the Telegraph this morning - not many potential CEOs are going to be interested now. Elliot's involvement could deprive us of a quality guy who would otherwise have been attracted by the potential to turn the ship around so to speak.

[pete160] 18/7/2019 08:41

As soon as I saw the adverts for 3 year fixed insurance, you know that premiums have peaked and that rates are softening. It's the same with 3 year fixed electricity / gas bills - these companies don't do it for love of the customer.

and I suspect that there are many caveats to 3 year fixed insurance similar to protected no claims, i.e. all bets are off if you claim, move address, change car, have health issues, additional driver, speeding ticket, etc, etc.

Good to see the share price not falling back this morning. I guess other than those bottom purchasers at 30-40p taking profits, there can't be too many sellers out there at the moment - but as others say, there is still a great deal of potential upside.

[edmondj] 18/7/2019 08:13

What has changed significantly, is the introduction of 3-year fixed price insurance policies, they said at the 16 June AGM:

"We have sold over 60,000 three-year fixed price policies, of which over 30,000 relate to new business. More than half of direct new business customers have chosen the fixed price product, which is in line with our business case assumptions."

So they can take some credit for the implied, improved quality of earnings, on the basis of take-up.

However as one poster prompted here and I also noted from an insurance quote, the annual price of a 3-year fix is 31% higher than for 1 year. That's a big premium to pay for 'price certainty' so quite what is the motivation - but for now, Saga customers are lapping it up. It's also likely, other insurers will follow Saga and Aviva with an element of price fixing, which would appear a response to regulation (of swingeing policy price increases) than an outbreak of goodwill towards customers.

[pete160] 18/7/2019 08:03

I'm not sure that I agree Sharebuddy. Other than a new CEO (and who is now going to want to take on that role?) and a new 'people director' what has changed with the management team that has created /not reacted to the dire situation that the company found itself in.

The issues affecting sage are the result of the current management and I am not sure that they are the right ones to be sorting it out. As for splitting the business, that would be akin to the current management turkeys voting for Christmas.

[sharebuddy1] 18/7/2019 06:50

Of course everybody, not only Elliot, is considering the merits of breaking up the business, but most agree they should wait to see the results of the Board’s new strategy. At least it is clear, Elliot clearly feel the share price is well undervalued and even if they hold it for a short to medium term, they will make a handsome profit without changing anything.

[koetser] 17/7/2019 21:51

70p is minimum breakup value
80p more likely

[husbod] 17/7/2019 17:09

Anything could happen now.Should get another leg up tomorrow when the financial media publicise the situation but the market works in mysterious ways so we'll probably drop a few p.

[koetser] 17/7/2019 16:28

Above article basically values saga at 80p plus per dhare