NU sells off last L&E account.
Norwich Union has sold London & Edinburgh's marine portfolio to St Paul, the last remaining non-core...
Norwich Union has sold London & Edinburgh's marine portfolio to StPaul, the last remaining non-core account which the composite inherited
when it bought L&E in 1998.
The acquisition gives St Paul the renewal rights to more than £40m gross
written premium for 1999. The deal will see Norwich Union take
responsibility for the run-off of any business which is not being renewed,
with St Paul servicing both existing and renewal business as part of its
marine operation.
All together, 20 members of staff
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