Cornhill closes direct arm
Cornhill Direct Life, the direct life insurance operation of Allianz Cornhill, is to cease writing new business after 31 December 2004. The direct life business will then be placed into run off, alongside the Cornhill Life division which closed to new business in 2001.
“This was a difficult decision to make,” said Andrew Torrance, CEO Allianz Cornhill “Especially as direct life has produced good results despite its small size.”He added: “However, general insurance
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