Mr Kentish, said: "The last six months have been incredibly frustrating, the headwinds on completing certain initiatives such as the Carey rebranding and our flexible annuity rollout have slowed down our new business pipeline.
"Whilst it is disappointing to start on a rebased 2020 profit before tax, I feel confident that we have the right tools in place and growth opportunities available to us to deliver enhanced underlying profitability.
“I look forward to updating the market as to our successes on these various matters as we progress into 2020."
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