CGNU, Britain’s largest insurer, posted a healthy 12 percent gain in first quarter operating profits to £445 million ($636 million). Life, pension products and general insurance all registered gains over last year’s results.
The results are especially welcome in the p/c sector which rose 38 percent, confirming the upward trend in premiums and the hardening of insurance rates in general. CGNU has indicated that it’s willing to lose market share rather than accept inadequate rates particularly in its commercial property and automobile lines.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Florida Judge Cans Investment Funds’ Lawsuit vs. Lighthouse Insurance Exec 
Thomson Reuters Detects Cyber Incident, Says Unauthorized Party Accessed Files 
FBI Investigating Possible Exposure of Millions of American IDs 
Federal Judge Cautions State Farm Against Gambling With Courts 
