CGNU Sells Belgian G.I. Co

CGNU PLC
22 May 2001



CGNU sells its main Belgian general insurance subsidiary

CGNU plc announces that it has signed a binding agreement to sell to 
Winterthur-Europe Assurances SA (the Credit  Suisse Group subsidiary 
in Belgium) the entire issued share capital of  CGU  SA, its main general 
insurance business in Belgium, for  some £72m.  CGU SA had gross written 
premiums of £106m in  2000.   CGNU is currently conducting a strategic  
review into its remaining general insurance activities in Belgium.

The disposal reflects the Group's strategy to exit businesses in  
which it has insufficient scale or where growth prospects are limited.  
CGNU remains committed to building its long-term savings business in Belgium  
through Delta Lloyd Nuts Ohra.

The transaction is subject to regulatory approval and is expected to be 
completed in the second half of 2001.


Enquiries:

Analysts
Steve Riley, Investor Relations Director    Tel:  [phone]

Media
Alex Child-Villiers, Financial Dynamics     Tel:  [phone]


Notes to editors:

* CGNU plc is the UK's largest insurance group and the world's sixth 
  largest insurer based on gross worldwide premiums.