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.
Gemini Hacked Three Companies in First Known Breakout by Google’s AI 
Are Software Vendors Holding Insurers Hostage? Build Your Own, Webinar Says 
Polo Strengthens Into Hurricane, Threatening Mexico’s Pacific Resort Towns 
Musk’s Boring Co. Working on Tunnel to Link Austin and San Antonio 
