Brit COR improves to 93.3%
The Brit Group has revealed a combined operating ratio of 93.3% in its half year results, an improvement from the 104.8% it posted in the same period of 2011.
The insurer also reported in its figures for the six months to 30 June 2012 that gross written premiums had had descended to £794.9m (H1 2011: £845.3m) which it attributed to further underwriting discipline and disposals.
Direct business totalled £579.5m (H1 2011: £596.1m) and reinsurance came in at £215.4m (H1 2011: £249.2m).
Operating profit and profit before tax were both up although were impacted by recent disposals. Operating profit totalled £79.6m (H1 2011: £15.0m). In April this Brit sold
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