The Hibernian Group today announced strong operating performances from its core businesses in the first half of 2002.
But it said "turbulent stock markets worldwide" had taken their toll and created a "difficult operating environment".
Figures released this morning showed that despite a drop in sales of 18 per cent, operating profits were up by 9 per cent to €94 million, premium income rose 1 per cent to €958 million, with an increasing in operating profits of €35 million - up from €26 million.
Hibernian Group chief executive Mr Bryan Jenkins said although performance was strong, the worldwide economic situation was still affecting business.
In other comments, he said €36.7 million of new premium from the Government-sponsored Special Savings Incentive Accounts contributed to growth of 28 per cent in new business relative to the same period last year.