Brit COR deteriorates to 96.5%
But profit before tax and operating profits both grow as the insurer described results as “sound in a challenging environment”.
The COR for insurer Brit hit 96.5 percent according to its interim results for the first half of 2016 which the insurer said was attributable to major losses.
This follows a COR of 90 percent for the first half of 2015. However profits increased with operating profit reaching $198.5m (£150.8m), up from $70.9m. Profit after tax hit $197.6m (2015: $6.4m).
GWP fell very slightly to just over £1bn, a decrease on the £1.1bn posted the previous year.
Mark Cloutier, group CEO of Brit, said: "Brit has
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