GRE withstands subsidence and storms

Wednesday 21 February 1996 00:02 GMT

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GRE withstands subsidence and storms

Guardian Royal Exchange, the insurer, yesterday reported profits at the high end of market expectations, notwithstanding sharply increased subsidence and bad weather claims in its domestic market. Pre-tax profits before investment gains were pounds 340m in 1995, up from pounds 326m (excluding a pounds 28m restructuring charge) the year before. The dividend was raised to 9p from 8.25p.

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GRE withstands subsidence and storms

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