Life insurance firm sees 50% profit before tax
Life insurance firm Chesnara saw a 50% drop in profit before tax over the first six months of the year.
The Preston based company reported that profit before tax fell to £26.5m from £51.6m.
The firm saw an economic loss of £800,000 compared to a corresponding profit of £14.3m in the first half of 2017.
Chesnara said is Scildon business had been hurt by losses on Italian bonds.
The fall in profit was just 14 percent when accounting for a £20.7 million pound gain the company said it made on the acquisition of Scildon a ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
