Over-50s holiday and insurance firm Saga has attracted at least two new investors who will take ownership of at least 10% of the company for more than £200 million.

It is the first time owners Acromas have sold shares in the business since its troubled float on the London Stock Exchange last year.

The private equity firm now owns 62% of the Folkestone-based company after selling more than 100 million of its shares for 185p each.

This was value they were initially offered for when Saga floated last May, valuing the company at £2.1 billion, before its share price tumbled, reaching below 150p by November.

The company had said it expected its shares to be worth as much as 245p when it tried to attract investors for its initial public offering early last year.

There has been disagreement among analysts over whether Saga should be considered an insurer, where most of its profits come from, or as a consumer services company, which usually has a higher share price.

Acromas is a company used by private equity firms Charterhouse, CVC and Permira to hold their stakes in Saga and the AA, which also floated last year.

Bank of America Merrill Lynch, which oversaw Saga’s float, handled the deals.

The identity of the new investors will be revealed in the coming days, in accordance with stock market rules.

One has taken a 4% share worth £83.3 million, the other a 6% stake costing £122.1 million.

Saga took home four awards at the Cruises Choice Awards this month.

Its largest ship, the Saga Sapphire, which can carry 706 passengers was voted top for best cruises, best cabins, best dining and best for embarkation.