Further to the announcement of 20 September 2000, CGNU plc ("CGNU") is pleased to announce that the sale of 100% of the equity in each of PTE Norwich Union S.A. ("PTE NU") and Norwich Union Towarzystwo Ubezpieczen na Zycie S.A. ("NU Life") to Sampo Insurance Company plc ("Sampo"), Finland's largest insurance group, has been concluded today.
Further to the announcement of 20 September 2000, CGNU plc ("CGNU") is pleased to announce that the sale of 100% of the equity in each of PTE Norwich Union S.A. ("PTE NU") and Norwich Union Towarzystwo Ubezpieczen na Zycie S.A. ("NU Life") to Sampo Insurance Company plc ("Sampo"), Finland's largest insurance group, has been concluded today.
Sampo has paid Euro 177.7 million (Ł107 million) for PTE NU and Euro 47.5 million (Ł29 million) for NU Life.
Enquiries:
Analysts/Investors:
Peter Foster, Group Finance Director
Tel: +44 (0)20 7662 2007
Media:
Hayley Stimpson, External Affairs Director
Tel: +44 (0)20 7662 7544
Alex Child-Villiers, Financial Dynamics
Tel: +44 (0)20 7269 7107
Notes 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.
- Ł1 = Euro 1.66 as at 28 November 2000.