Profits will fall warn Independent and Zurich
Insurance giants Independent Insurance and Zurich Financial Services both warned their full-year prof...
Insurance giants Independent Insurance and Zurich Financial Services both warned their full-year profits for the year 2000 will fall below expectations.Independent said the rise in personal-injury liability insurance in the UK had largely contributed to its lacklustre performance. The company stated the rise of no win, no fee culture in Britain and EU employment has lead to an increase in claims, forcing it to increase its reinsurance protection on liability business in the London insurance
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