CGNU is to stop the practice of full first- and third-quarter reporting, starting from the third quarter of this year.

It said the decision had been taken in the light of the disposal of its US general insurance operations and the resulting increase in the long-term savings proportion of the group's business.

In future, the group said it would give an enhanced level of disclosure of its new business long-term sales information in the first and third quarters, including new business margins, market developments and sales environment.

CGNU said half-yearly accounts statements were more appropriate for long-term savings business and this was consistent with many financial services companies.