Rates stabilising according to Brit boss
Brit has reported that gross premiums written by the group in respect of ongoing business for the 9 months to 30 September 2007 totalled £1.02bn (30 September 2006: £978.3m), an increase of 4.3%. Premium growth, when adjusted for exchange rate movements was 9.2%.
A statement from Brit said that as it had anticipated, the majority of its premium growth had come from Brit Global Markets which had an underlying increase of 14.7% to £565.9m (30 September 2006: £522.2m).
Business written by the reinsurance underwriting centre totalled £226.1m (30 September 2006: £236.8m), an underlying increase of 1.7%. Premiums written by Brit UK were £228.1m (30 September 2006: £219.3m), an underlying increase of 4.5% which, the statement said, reflected "the investment we
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