(Reuters) - London-listed insurer Chesnara Plc (L:CSN) reported a 16 percent fall in first-quarter pre-tax profit, citing "fairly flat" economic conditions compared with more favourable conditions a year earlier.
Chesnara, which mainly buys life insurance funds closed to new customers, said pre-tax profit on an IFRS basis decreased to 7.3 million pounds for the quarter ended March 31 from 8.7 million pounds a year earlier.
(Reporting by Karen Rebelo; Editing by Robin Paxton)