CGNU plc today announced that a resolution will be proposed at the Annual General Meeting in April 2001 for the appointment of Ernst & Young as the principal auditors of the CGNU plc Group for 2001. This decision follows an extensive review process after the merger of CGU and Norwich Union earlier this year. Ernst & Young, who were previously auditors to Norwich Union, will act as joint auditors for the current year together with PricewaterhouseCoopers, who were appointed auditors of CGU Group in 1999 following an earlier tender process at the time of Commercial Union's merger with General Accident.
CGNU plc today announced that a resolution will be proposed at the Annual General Meeting in April 2001 for the appointment of Ernst & Young as the principal auditors of the CGNU plc Group for 2001. This decision follows an extensive review process after the merger of CGU and Norwich Union earlier this year. Ernst & Young, who were previously auditors to Norwich Union, will act as joint auditors for the current year together with PricewaterhouseCoopers, who were appointed auditors of CGU Group in 1999 following an earlier tender process at the time of Commercial Union's merger with General Accident.
Peter Foster, group finance director, said: "We are pleased to be working with Ernst & Young. However, PricewaterhouseCoopers has served the shareholders and Board of CGNU, and a number of its predecessor companies, extremely well over a number of years. We will continue to give PricewaterhouseCoopers the opportunity to work on a range of activities outside the statutory audit."
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Note to editors:
CGNU plc is the UK's largest insurance group and the world's sixth largest insurer based on gross worldwide premiums. The group was created from the merger of CGU and Norwich Union on 30 May 2000.