Brit expects Katrina to "extend the hard market" as it reports £112.2m profit
Brit today reported profit before tax of £112.2m, up 61.0%, for the first six months of 2005. It added that it believes Hurricane Katrina would help extend the hard market, and that “Brit is extremely well positioned for the opportunities that this price hardening represents”.
The insurer added that the group combined ratio was 87.4% and that full year gross written premiums are expected to be ahead of 2004. Brit’s investment performance of £59.8m, was up 169.4%.Dane
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