Fortis UK: too early to estimate July weather-related losses

Fortis UK has described the commercial market as "sluggish", as it unveiled a 14% increase in gross written premium (GWP) for the first six months of 2007 to £383m.

The insurer reported a 24% increase in GWP in its motor account, giving it £236m worth of business and coverage on 1.6 million cars, despite implementing average rate rises of 7% since January.

Chief executive officer Barry Smith said that the result was down to a combination of issues, including the continued development of its

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