Problems for Middlesea subsidiary persist

Middlesea Insurance said today that while it would be issuing its interim financial statements on Tuesday, the very difficult trading conditions experienced by its Italian subsidiary Progress Assicurazioni SpA referred to in the 2008 annual report and...

Middlesea Insurance said today that while it would be issuing its interim financial statements on Tuesday, the very difficult trading conditions experienced by its Italian subsidiary Progress Assicurazioni SpA referred to in the 2008 annual report and in a May 2009 company announcement, had persisted.

It said these would have a material adverse impact on the half-yearly results.

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