CGNU benefits from reduced exposure to general insurance markets

CGNU, the UK’s largest insurance group, reported a strong set of results for the first half of this year, with operating profits up 42% to £977mn from £679mn in 2000. CGNU continued to capitalise on thriving long term savings market in Europe and extended its distribution capabilities by entering in to new bancassurance agreements on the continent. Improved rates for general insurance products and an absence of large bad-weather claims have also contributed to the strong growth in profits.