Premiums to be cut despite profit fall at NFU mutual
NFU Mutual said it will cut premiums by 10% under its mutual bonus scheme this year, despite profits on general insurance business falling by almost £100m. According to a statement from the insurer general insurance and life customers are set to benefit from "the insurer’s strong 2006 performance".
"Thanks to lower than expected claims costs, NFU Mutual general insurance customers’ 2007 renewal premiums are being reduced by up to 10% through the company’s MutualBonus scheme," it said.
“2006 was
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