Article: City in brief; Business Day.(Statistical Data Included)

City in brief

CGNU buys in Hungary

GENERAL insurer CGNU is paying Dutch bank ABN Amro [pound]64 million for Hungary's sixth largest life business, Mebit.

The British insurer now draws 25% of its premiums from Europe, where operations include Poland, the Czech Republic and Romania. Hungary is one of the better-off central and Eastern European countries, with a population of 10 million, and an undeveloped insurance market.

Mebit sells life policies to the well-off through a direct sales force of 800.

Delta Slides on Us worry

FEARS about the US economy hit electrical and engineering group Delta today, the shares ...

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