Highway Insurance's aborted deal with Chaucer Holdings cost the company £400,000, according...
Highway Insurance's aborted deal with Chaucer Holdings cost the company £400,000, according to executive chairman Ross Dunlop.
Speaking at the insurer's AGM today, the chairman said professional fees and expenses from the botched deal will be incorporated into the company's accounts over the first half of 2005.
However, Dunlop was keen to reassure shareholders that first quarter earnings, announced in September, will be in line with expectations.
He said: "Overall, we are pleased with our progress at the start of 2005, particularly in light of difficult market conditions and the distraction of merger talks.”
He added: “Premium income has been strong despite challenging trading conditions.”
