Brit Insurance unlikely to reach income target
Brit Insurance has admitted it is unlikely to reach its target of £2bn premium income by 2010. The i...
Brit Insurance has admitted it is unlikely to reach its target of £2bn premium income by 2010. The insurer said price competition in Brit global markets and Brit reinsurance had made the goal harder to reach, despite posting a profit-before-tax of £191.2m and gross written premium increasing by 2.3% to £1.26bn. Elsewhere, Brit UK reported a rise in its combined ratio from 86.9% to 92.7%, largely driven by the UK floods and global economic downturn.
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