Insurance Age

Brit returns profit, appoints Citigroup as Broker

Highlights

Gross written premium increased by 10.7% to £1,202.5m Pre-tax profit of £62.4m (2004: £116.1m), achieved in a year of record catastrophe claims activity Very strong investment performance of £121.8m (2004: £76.1m) Combined ratio 105.2% (2004: 92.9%) Recommended final dividend of 3p per share, bringing the total for year to 6p per share Completion of strategic review of Group capital structure and gearing, culminating in successful £150m tier two subordinated bond issue bringing pr

To continue reading...