Norwich Union (NU) chief executive Patrick Snowball admitted the company had failed in its dealings with brokers and customers, while announcing profits of nearly £1bn for general insurance in 2001.
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Norwich Union (NU) chief executive Patrick Snowball admitted the company had failed in its dealings with brokers and customers, while announcing profits of nearly £1bn for general insurance in 2001.
Service and staff morale had suffered since the merger with CGU in February 2000 created the UK's biggest insurance group, he added.
Snowball said service standards were improving but would never match the pace of expectation.
Group operating profits were up 41% to £2.004bn last year. General insurance operating profits were up 133% to £945m from £412m in 2000.
