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Saga could be valued at £3bn

SAGA is thought to be planning a stock exchange flotation that could value it at £3 billion and see the insurer raise around £750 million.

The company, which specialises in insurance cover for the over-50s but also offers cruises and dating services, could make a formal announcement as early as next week, according to reports.

Private equity firms Permira, Charterhouse and CVC paid £6.3 billion in 2007 to acquire Saga and the Automobile Association in a joint deal.

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