Fortis’ UK general and life insurance arms are operating "as usual" in spite of its Benelux -based parent company announcing a part-nationalisation and asset sell-off plans.
The Belgium, Luxembourg and the Luxembourg Governments will be investing 11.2bn Euros in Fortis after the European banking and insurance giant suffered a terrible last trading week, falling to a 15-year low.
The group plans to offload its former ABN Amro assets, but Fortis UK will not be among the sell-off and a spokesperson has confirmed that the restructuring will not have any impact on the UK businesses.
Fortis UK, which includes the general insurance arm, reported before tax profits of £43.3m in the first half this year, which is more than double that of the corresponding period in 2007. According to the spokesperson, advisers and consumers should not expect any trading changes from the firm as it is a "separate legal entity and separately regulated".
Its business as usual for Fortis UK general and life firms
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Its business as usual for Fortis UK general and life firms
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