CGNU profits dip a little
CGNU today reported operating profits of £800m in its first interim results since the merger of CGU a...
CGNU today reported operating profits of £800m in its first interim results since the merger of CGU and Norwich Union. This figure is slightly down on last year's profit of £853m.CGNU also reported a fall in its worldwide general insurance profits, which dropped to £372m from 1999's figure of £370m. The company cited the £90m claimed after the French storms in as a mitigating factor on this year's results.
The UK general insurance underwriting loss improved by £20m, to £157m. Significant
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