Article date: 17 December 2001
CGNU has agreed the sale of Plant Safety Limited, its in-service inspection and technical consultancy business based inManchester to Bureau Veritas SA, the worldwide inspection,certification and consultancy organisation.
The sale reflects the group's business strategy to concentrateon core insurance business. The engineering insurance marketcontributes significant value to Norwich Union Insurance’scommercial portfolio and CGNU will continue to develop theinsurance business to deliver sustained profitable growth.
The transaction will not affect the scope of NorwichUnion’s broker services as the group will remain a majorcustomer of Plant Safety through an outsourcing arrangement for thenext five years.
Ken Wallace, intermediary business director at Norwich UnionInsurance, said: “The sale is excellent news for Plant Safetystaff who will join an organisation whose vision is to be theleading inspection and consultancy organisation in the world."
For further information contact Liz Kennett on 08703 666863 orJenny Chapman at Norwich Union on 08703 66 68 64
Notes to editors:
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