Company holds off publishing UK figures until March; three join British operation.
Fortis Insurance International (FII) reported a pro-forma net loss of €30m (£25.2m) in the third quarter of 2008, which it attributed to capital losses and write-downs on investments of €45m after tax and minority interests.
It admitted that further write-downs and capital losses were expected in the fourth quarter. Since 30 September this year, life insurance sales have reduced further, whereas non-life sales have remained stable compared to the third quarter.
FII’s figures for the nine months to 30 September showed a net profit of €40m year on year, as a result of improved claims ratio in non-life and good cost control.
However, FII’s pro-forma net profit was affected by €55m losses and write-downs on investments after tax and minority interests.
A spokesman for Fortis said specific figures for its UK business would only be published next March with the full-year results.
In 2007, Fortis Insurance UK reported pre-tax profit of £92.2m and gross written premium of £757.8m.
This year Fortis has sold some of its European insurance divisions. In October, Fortis Corporate Insurance was sold to the Dutch government for €16.8bn. Next month Fortis Insurance Belgium will be sold to BNP Paribas for €5.57bn, subject to conditions.
Separately, Fortis Insurance UK has made several appointments within its underwriting and distribution and development teams.
Mike Ketteringham has been appointed head of underwriting development, where he will concentrate on the growth of personal lines. Ketteringham will report to Adam Clarke, director of underwriting. He joins Fortis after working at RBS Group.
Stephen Linklater will become head of household underwriting. He joins from Hastings Direct.
Mark Auchterlonie becomes commercial business development manager, reporting to Chris Dobson, distribution and development director. Auchterlonie previously worked for Norwich Union.