Following a review of its New Zealand p/c business, CGNU, the U.K.’s largest insurer, announced plans to sell its affiliate State Insurance and concentrate its efforts on New Zealand Insurance (NZI), its life company.
State Insurance was formerly a subsidiary of Norwich Union, which merged with CGU earlier this year, and despite the unit’s profitability, CGNU determined that greater value could be obtained by its sale, than by consolidation with NZI.
Topics Property Casualty
Was this article valuable?
Here are more articles you may enjoy.
Lawyer Who Filed Viral Suit Against JPMorgan Seeks to Exit Case 
Florida’s Property Tax Plan Risks Charging Fees for ‘Everything’ 
Anthropic Plans Wide Release of Mythos-Level AI Models in Weeks 
AI Savings Misses ‘Should Be Making Executives Uncomfortable,’ Bain Says 
