Insurer CGNU has agreed the sale of its in-service inspection and technical consultancy business, Plant Safety Limited, to Bureau Veritas, the worldwide inspection, certification and consultancy organisation.
The insurer said the sale of the Manchester-based company reflected its business strategy to concentrate on core insurance business.
CGNU added that the engineering insurance market contributed significant value to Norwich Union Insurance's commercial portfolio and that it would continue to develop the insurance business to deliver sustained profitable growth.
CGNU said: "The transaction will not affect the scope of Norwich Union's broker services as the group will remain a major customer of Plant Safety through an outsourcing arrangement for the next five years."
