CGU and Societe Generale have resumed talks about setting up a bancassurance joint venture.
Three months ago CGU helped SocGen fight off a takeover bid by its rival Banque Nationale de Paris.
CGU's controversial investment in SocGen attracted criticism from the French stock market. However CGU group finance director Peter Foster says the company made £85m profit from its investment in SocGen.
CGU announced a nine months' profit fall on Wednesday compared to the same period the previous year. Although Peps, Isas and life business is up, operating profits dropped to £603m from £618m.