NFUMutual profit

29 May 1998

NFUMutual profit

NFU Mutual has reported a trading profit of £69m for 1997, exactly the same as last year.

Underwriting loss was £29m, more than twice 1996 levels, but added investment income made up the difference. Income from premiums was almost unchanged at £321m. A decision to pay policyholders insurance premium tax cost £9m, but was matched by continued sales growth.

NFU Mutual Lifes managed funds rose to over £6.3bn.

, and business increased 20%, much of that from new non-agricultural rural sources.

Donations to farmers unions topped £3m, including the "Keep Britain Farming" campaign.

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