General Accident Reports Profit Growth In First Half

(Alliance News) - General Accident PLC on Thursday said its performance improved in the first half of 2019.

The insurance provider reported a pretax profit of GBP82 million for the six months to the end of June compared to GBP61 million a year earlier, as investment income grew to GBP82 million from GBP69 million.

General Accident transferred its interest in its subsidiaries to its parent company, FTSE 100-listed Aviva PLC in 2005, in return for an inter-company loan with Aviva. The income of General Accident for the six months to the end of June consists of interest received on this loan.

General Accident shares were trading 0.8% lower in London at 144.30 pence each on Thursday, while Aviva shares were up 0.6% at 384.10p each.