CGNU Takes Extra $200 Million Cost on U.S. Sale

February 20, 2001

British insurer CGNU Plc will take on an additional cost of $200 million in its purchase of CGNU due to amendmen6ts to the sale of its U.S. general business to White Mountains Insurance Group Ltd.

CGNU said in September it was withdrawing from the U.S. property and casualty market with the sale to White Mountains.

The U.S. general business was sold for $2.06 billion plus the cost of repaying an inter-company loan of $1.10 billion.

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