Norwich Union records profit in personal lines market
In the personal lines market, Norwich Union (NU) recorded an overall £26m profit (2003: £24m loss) o...
In the personal lines market, Norwich Union (NU) recorded an overall £26m profit (2003: £24m loss) on net written premiums of £3.2bn (2003: £2.99bn) and an improved combined operating ratio of 100% (2003: 101%).
This has been assisted by claims cost savings in the insurer's supply chain. This amounted to an increase of £55m across its UK portfolio, as well as small premium increases of 1% for homeowners and 2% in motor.
Following the closure of Hill House Hammond (HHH), NU said it was on target to
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