Brit reports 2016 slight dip in profit

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The company's gross written premiums went down from $1,999.2m (£1602m) in 2015 to $1,912.2m in 2016, a decrease at constant exchange rates of 2.3%. Net earned premium decreased by 6.1% from $1,649.6m in 2015 to $1,515.1m but the business saw a huge increase in profit after tax which stood at $157.6m (2015: $15.6m). With its launch of Syndicate 2988 for the 2017 underwriting year, which had a capacity of £52m in its first year of trading, Brit has strengthened itself as a specialis