Brit still in profit at H1 2011 despite 15.5% COR hit for major claims
Brit Insurance has this morning reported that its profit before tax was £6.8m for the first six months of 2011 (30 June 2010: £77.5m). Excluding the effect of foreign exchange on non-monetary items it was £1.6m (30 June 2010: £72.8m).
Its gross written premium was 2.1% higher at constant exchange rates of £845.3m (30 June 2010: £851.5m), on the back of premium rate increases of 0.9% (30 June 2010: 1.1%).
Rate increases were seen
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