Independent halts plans to enter life market.
Independent Insurance has postponed its plans to enter the life and pensions market, forcing it to w...
Independent Insurance has postponed its plans to enter the life andpensions market, forcing it to write off related costs of £5m.
The insurer revealed that it had been developing life and pensions systems
for the last 12 months. However, it has now postponed this work in view of
the recent stockmarket turbulence which has put pressure on many life
companies.
Independent has also announced expected losses of £15m for the year due to
extreme UK weather conditions, plus a further loss of £3.5m on its
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