Summary
THE summer floods and January storms have wiped 55m off profits at the Co-op's banking and insurance business.
In the half-year to July, underlying pretax profits at Co- operative Financial Services, which accounts for 3pc of the UK general insurance market, fell from 93m to 38m. Chief executive David Anderson said CFS took the hit after its re-insurers would not pay compensation.See the full content of this document
Extract
Floods and Storms Cost the Co-Op 55m
'This was three separate f...
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