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Fortis reports Eu1.2bn 09 profit and new name
10 March 2010
Fortis has announced a group net profit of Eu1.2bn ($1.6bn) compared with a net loss of Eu28.0bn in 2008. .
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Fortis has announced a group net profit of Eu1.2bn ($1.6bn) compared with a net loss of Eu28.0bn in 2008. Fortis had a solid insurance net profit of Eu456m (621.7m) for the full year of 2009, which compares favourably to a Eu6m net profit in 2008.
Life insurance operations returned to profitability of Eu382m after 2008’s adverse financial markets resulted in substantial losses in. Non-life net profit more than halved to Eu74m as a result of higher claims in both motor and household.
The combined ratio for the group in...
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