Generali quits UK retail after sale to Fortis.
Generali has confirmed the sale of Northern Star to Fortis, as exclusively revealed by PB last month...
Generali has confirmed the sale of Northern Star to Fortis, asexclusively revealed by PB last month (p1). The Italian insurer has also
announced that it is pulling out of UK retail business and has appointed
Eastgate to handle the portfolio run-off.
Northern Star will be integrated into Fortis' UK operation Bishopsgate,
which, as the two companies stand at the moment, will give the combined
operation a premium income of £310m. Northern Star's premium income for
1998 was approximately £80m.
Peter
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