Big loss for NFU Mutual

19 October 2001

Big loss for NFU Mutual

THE NFU Mutual, the biggest agricultural insurer, is set to lose up to £650,000 in the collapse of the online agricultural trading platform

A report from receivers Ernst & Young lists an unsecured loan from the NFU Mutual for £650,000 to the failed dotcom start-up. A spokesman for the insurer confirmed its investment team had invested capital in But he defended the companys record.

"Our investment team has not been hit hard by dotcom businesses going to the wall.

"It was a pretty small investment in terms of the groups total asset value of £7bn.

"Farmers who insure with us do not need to be concerned – it will not impact on premiums next year." &#42

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