The changes were announced as CGNU
reported operating full-year operating profits of pounds 2 billion, up from pounds 1.
We're just delighted to have obtained the Aviva brand, " The change came as CGNU
posted a 41pc increase in operating profits for the last year - its first full year as a merged company - but announced plans to cut its dividend in 2002 to allow it to fund continued growth.
A link-up between the two groups would potentially have reinforced the position of CGNU
in life insurance and asset management in France, and the position of MMA in domestic property/casualty reinsurance.
saw ten per cent of its value wiped out after unveiling plans to slash its dividend for this year.
, which sells pension and savings products, has been walloped by the fall in the stock market this year, in which the bulk of its assets are held.
Within the CGNU
group, the Dutch operation is the overseas business most closely aligned with the home market operation.
A Bottomline customer since 1998, Norwich Union, now part of CGNU
, has seen its volume of payments rise to 2 million anually.
added long-term new business sales in the UK hit a record at pounds 8.
As a result of the merger between Norwich Union PLC and CGU PLC during 2000, the CGNU
group is now the U.
The rating actions follow the confirmation by CGNU
that it has entered preliminary discussions with MMA to establish the basis of a partnership that would reinforce the position of CGNU
in life insurance and asset management in France and the position of MMA in domestic property/casualty insurance.
based parent, the composite insurance group CGNU
whose core operating entities are rated AA/Stable/--
Britain's biggest life company, CGNU
, which trades a Norwich Union, yesterday reported booming pensions sales, including stakeholders worth pounds 282 million or 20 per cent share of the market.