24th July ‘08 - Critical Illness Cover Company Announces Loss
Posted on Friday, July 25th, 2008 at 12:26pmLife insurance and critical illness cover provider Prestbury Holdings has revealed that it has incurred losses of £1 million.
Despite having a turnover of £10.78 million in the 14 months leading up to the end of 2007, the critical illness cover company said that 2006’s profit of £250,000 had been replaced by a seven-figure loss.
Prestbury blamed the bad news on the so-called credit crunch and the difficulties at Northern Rock.
In separate news, it has been revealed by a Which? investigation that one mortgage advisor attempted to sell a critical illness cover policy to a customer by using Kylie Minogue’s breast cancer diagnosis as an example of how important cover can be.
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