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CGU announces 40 per cent drop in pre-tax profits

CGU&#39s pre-tax profit in 1998 dropped by almost 40 per cent to £768m from £1,238m in 1997.


Its the loss was due to merger integration costs of £260m and extreme global weather conditions which increased claims provisions to £350m.


Life premium income increased to £6,952m from £6,366m and general premium income increased to £8,772m from £8,719m.


Its full year divined grew 8 per cent to 35.15p.

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