Brit to exceed market expectations for 2005
Brit Insurance today said that driven by good performance both in its non-catastrophe exposed underwriting portfolios and in its investment portfolio, it expects that its pre-tax profit for 2005 will be in the region of £60 million. This, Brit added, was significantly ahead of market consensus expectations.
In a statement it said: "The expected profit takes into account a revision in the original provisions for Hurricanes Katrina, Rita and Wilma.
"Brit has strengthened total reserves for these windstorms
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