Cgnu will pay an extra $200m (£138m) to White Mountains to cover transaction expenses on the sale of its US general insurance business to the Bermuda-registered insurance group.
CGNU said the sum would cover due diligence, management costs, and shortfalls in the company pension scheme that needed to be settled to achieve regulatory approval for the transaction.
In September 2000, CGNU announced it was getting out of the US property and casualty market with the sale of its US general business to White Mountains for $2.06bn (£1.42bn), plus the repayment of an inter-company loan of $1.10bn (£0.76bn).
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
