Life and general insurer CGU has reported new premium income of £76.1 million (€96.6 million) in its first year of operation in the Republic. In the first quarter of 1999, group new premium income increased by 29 per cent to £1.8 billion. Annual premium sales rose by 19 per cent to £112 million and single premium sales grew by 20 per cent to £1.4 billion.

Mr Stuart Purdy, general manager for Ireland, said CGU was delighted with the results. CGU is one of the biggest insurance groups in Europe.