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Article: ASR Netherlands H1 net profit slumps 74%.
- Article from:
- ADP News Netherlands
- Article date:
- September 3, 2009
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(ADPnews) - Sep 3, 2009 - ASR Netherlands, the former insurance unit of Fortis (EBR:FORB), today saw its first-half net profit plunge 74% on the year to EUR 77 million (USD 109.9m).
According to ASR, the demand for insurance products came under pressure due to the fierce price competition.
The insurer's total gross commission income fell 19% to EUR 2.8 billion.
In view of the current market developments and the company's long-term objectives, ...