INSURANCE EARNINGS

INSURANCE EARNINGS

SEDGWICK GROUP SAYS

PROFITS, REVENUES UPSedgwick Group PLC, Britain's largest insurance broker, announced pretax profits Tuesday for 1989 of 85.2 million ($145.7 million), compared with 77.9 million ($133.2 million) in 1988.

Group revenues rose to 647.3 million ($1.1 billion) from 597.9 million ($1.02 billion).

David Rowland, Sedgwick chairman, said: "The continuing downward movement of insurance rates around the world again adversely affected income during 1989. However, the group benefited in 1989 both from the greater strength of the U.S. dollar against sterling and from the higher level of interest rates," he said.