Fresh joint venture move for CGNU's Dutch unit

LONDON - CGNU, the UK�s largest insurer, has announced its Dutch subsidiary, Delta Lloyd (DL), will form a joint venture with the pension fund PGGM, which caters for employees in the Netherlands� health care and social welfare sectors. Under the brand 'Careon' the new initiative will offer financial services products, including savings products, life and general insurance, investment products as well as some banking products to PGGM�s 1.5m members, which have total assets of more than Euro52bn, as at 2000. The deal, which is set for the second half of this year, provides DL with a new channel to distribute its products.