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Financial News - Fortis points finger at direct rivals.
(From Post Magazine)
Fortis has highlighted continued growth in its travel, small to medium-sized enterprise commercial and household books as positive news from its interim results.
However, the insurer's core motor book saw gross written premiums reduce overall by 5%, with Fortis pointing the finger at direct writers putting pressure on rates.
GWP for the second quarter of 2005 increased by 1% to GBP297m. "Fortis Insurance continues to deliver strong results driven by excellent margins across the product range," said Barry Smith, chief executive of Fortis Insurance UK. "Our household and travel books have experienced significant expansion and our commercial book ...
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