View this article online: https://www.insurancejournal.com/news/international/2001/06/01/12959.htm
Fortis, the Dutch-Belgian financial services and insurance group, announced that net profits for the first quarter were 5 percent lower than last year’s figures, but reaffirmed its goal of increasing 2001 overall net operating income by more than 10 percent.
Increased costs, a drop in capital gains and a 19 percent fall in profits on insurance were blamed for the decrease.
Some divisions improved there performance, however. The company increased revenues in its retail banking operations by 7 percent, and gross premiums from life insurance increased 51 percent to €3.8 billion ($3.23 billion).