Brit Q1 results reveal drop in gross written premiums
Brit Insurance Holdings has reported a 13.3% drop in gross written premium (GWP) to £483.5m in the first quarter of 2010 (2009: £557.6m), a decrease of 9.9%
However, the insurer revealed that it still managed to push through marginal overall rate increases on renewal business of 1.4% (31 March 2009: increase of 4.6%). Investment return for the period increased sharply on last year (£8.2m loss) to a £35.3m gain this year.
Dane Douetil, chief executive officer of Brit Insurance said: "The underwriting market in the first quarter of 2010 has developed broadly in line with our expectations. I am particularly pleased that, as a result of our
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