Insurer Saga Takes £4M Hit From Thomas Cook Collapse

Law360, London (January 28, 2020, 11:36 AM GMT) -- Insurer and tour operator Saga said Tuesday it has taken a £4 million ($5.2 million) hit from the collapse of travel company Thomas Cook, as it prepares to release its full-year results by the end of the week.

The company said in a stock market update that it expects to meet its targets for pre-tax profit when it publishes its 2019 results on Friday.

The collapse of Thomas Cook in September sent shock-waves through the travel industry as flights and tours were canceled, leading to the biggest repatriation of British citizens outside wartime. Saga did not say how it was affected...

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