Storms hit profits.

Last year's floods and storms have caused a sharp drop in CGU profits. Pre-tax profits of £768m b...

Last year's floods and storms have caused a sharp drop in CGU
profits.


Pre-tax profits of £768m before exceptionals were reported, down from
£1.24bn in 1997. A £363m increase in claims from adverse weather was
reported, while price competition produced a £390m underwriting loss. The
general insurance division made a profit of £504m in 1998, compared with
£1bn in 1997.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: