European expansion pays dividends for CU
Thursday 18 May 1995
Pre-tax profit for the three months to the end of March rose 43 per cent compared with the first quarter last year to reach pounds 102m on premium income of pounds 2.3bn, up from pounds 1.6bn this time last year.
The company said the results reflected the success of its strategy of expanding its life assurance business in Europe. Groupe Victoire, the French acquisition made last October, contributed pounds 16m to profits. The Dutch life operation made a 24 per cent increase in profit to pounds 24m.
Claims for weather damage in the United States were lower this year, adding pounds 14m to profit.
Paul Found, group financial controller, said: "We have had a good start to the current year." The price of premiums had fallen since the start of the year, but this trend was showing signs of stabilising.
Paul Hodges, an analyst with James Capel, said: "This is a very creditable result consistent with those of other insurers."
Co-creator Mark Gatiss dropped some very intriguing hints ahead of the BBC drama's return next year
- 1 'Not suppost to cry': 9-year-old lists the worst things about being a boy
- 2 Lee Evans announces his retirement from comedy on The Jonathan Ross Show
- 3 Iggy Azalea responds to Eminem rape lyrics: 'I'm bored of old men threatening young women'
- 4 These grandmas smoking weed for the first time are wonderful
- 5 Pastafarian former porn star Asia Lemmon allowed to wear colander in driving licence photo
Duchess of Alba dead: Billionaire Spanish duchess who lived life by her own rules, dies at 88
New York snowstorm: Death toll rises to 10 as residents battle with further snowfall
These grandmas smoking weed for the first time are wonderful
Woman opens professional cuddling shop – gets 10,000 customers in first week
Bill Cosby rape allegations explained: Why are these allegations coming out now? And why has nobody taken legal action?
Rochester by-election: Ukip gains second MP as Tory defector Mark Reckless holds seat
'Muslims pre-date Columbus in discovering America,' says Turkish president Erdogan
Rochester by-election: Labour MP Emily Thornberry resigns after posting white van and England flags tweet
France 'blocks' Russian sailors from boarding a warship
Former Tory PM Sir John Major says 'we would not have an NHS without migrants'
G20 summit: David Cameron warns Vladimir Putin that Russia's relationship with the West is at a 'fork in the road' over Ukraine
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