Brit Insurance has announced a record pre-tax profit of £102.5m for the year ended 31 December 2004. This represented a 32.1% increase from the £77.6m recorded in 2003. The insurer said it was pleased with its combined ratio performance, which deteriorated to 92.5% from 88.5% in 2003, despite a severe natural catastrophe year. The insurer also posted a strong investment performance of £77.3m, up from £50.9m in 2003. Dane Douetil became the chief executive officer at the AGM in April. Neil
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