A windfall of up to £600 million is expected to be shared by about 6,000 staff at Saga and AA when the group triggers a £3 billion float.


Staff hold about 22% of the over-50s group while customers of the holidays and insurance provider will be offered the chance to buy shares.


Saga and the AA will be sold separately, according to the Sunday Times.


Andrew Goodsell, chief executive of parent company Acromas, publicly confirmed for the first time that he plans to lead Saga to the stock market.


“Saga is likely to float. It depends on the market, but I would say over the next 12 to 24 months,” he told the newspaper.


“Having our customers own a stake in the business is important and will form a key part of what we do.”


Goodsell is close to appointing new chief executives for both Saga and the AA.


He is expected to relinquish executive duties at Saga, becoming non-executive chairman some time after a new boss has been recruited, according to the newspaper.