Fortis reported a net operating profit of €766m (£515m) for its insurance business in the first half of 2004.
Net operating profit increased by €800m (£537m) to €766m, the company reported, up from a loss of €34m in the first half of 2003. The result excluded its Assurant and Seguros Bilbao results, said Fortis.
For the second quarter of the year, Fortis reported net operating profit of €349m, a fall of 17% on the €417m reported for the first quarter of the year.
Fortis said the fall was the result of a lower contribution from value adjustments on its equity portfolio, down €96m on the first quarter.
