Fortis' UK general and life firms operating 'as usual'

The Belgium, Luxembourg and the Netherlands Governments will invest €11.2bn in Fortis, after the European banking and insurance giant suffered a horrendous last trading week, plunging to a 15-year low. While the group plans to offload its former ABN Amro assets, Fortis UK will not be among the sell-off – with a spokesperson confirming the overnight restructure will have “no impact on the (UK) businesses”. Fortis UK, which encompasses the general insurance arm, reported before tax profits of £43.3m in the first half this year, more than double the corresponding period in 2007. In July, the...