HHG buoyed by return to profits

British insurer and fund manager HHG was back in the black at the half-year stage today as it recovered from losses of £902m (€1.3bn) last year.

The group – the former Pearl-to-NPI arm of Australian financial services group AMP – took hefty accounting charges in 2003 after a restructuring drive to shore up the financial position of its life insurance business.