CGU Life, the company formed as a result of the merger of General Accident and Commercial Union, has extended the Millennium bonus offer on its flagship product, the Portfolio Bond, until July 31st in response to demand.

Clients investing in the bond will receive a bonus payable next year of up to 2 per cent combined with the CGU interim with-profit rate of 6 per cent.

CGU Life, which was launched in the Republic in March last year, has sold £75.4 million of its Portfolio Bond in its first 12 months of operation here.