Brit Insurance Holdings PLC
Brit Insurance Holdings : 2005 results
Brit Insurance Holdings reported pre-tax profits of £62.4m (2004: £116.1m) for the year to December 2005, amidst record catastrophe claims. The company was hit by storm losses estimated at (net of reinsurance) of $385m (£216m) last year.
Earnings were driven by a solid investment performance: investment returns rose 60% to £121.8m (2004: £76.1m).
The company says it […]
Brit Insurance Holdings: trading statement
Brit Insurance Holdings, the UK general insurance group that took a beating in the recent hurricane season (refer to our previous report on storm losses) made a surprise announcement that it expects to end 2005 with a pre-tax profit of £60m.
Given the heavy losses that Brit suffered in the recent storm season, most analysts were […]
Brit Insurance Holdings: Storm losses
Brit Insurance Holdings, the UK general insurance group, said that losses from hurricane Wilma (net of reinsurance) are estimated at £37.5m. The Group’s estimate of losses from hurricanes Katrina, Rita and Wilma, net of reinsurance, is £182.5m. The losses are large by any measure and dwarf the H1 pre-tax profits of £112.4m.
The company says it […]
Brit Insurance Holdings: H1 results
Brit Insurance Holdings, the UK general insurance group, announced record interim results for the six months to June 2005. Pre-tax profits rose 61% to £112.4m (€166m).
Investment returns rose 169.4% to £59.8m and the overall combined ratio improved marginally to 87.4% (1H 2004: 88.3%). The ratio would have been far better had the reinsurance business […]
Brit Insurance Holdings: H1 statement
Brit Insurance Holdings, the UK general insurer, said that its results for the half year to June 2005 will be “materially ahead” of market expectations. The better results are due to favourable trading conditions, a low levels of claims and a good investment performance.
Pre-tax profit for the first half of 2005 are likely to […]
British Insurance Holdings
British Insurance Holdings reported strong full year results to December 2004. Net earned premia grew 27.3% to £854.5m and the technical result almost doubled to £80m. Operating profit grew 22% to £122m. British Insurance Holdings’ combined ratio decreased to 92.5% (2003:88.5%) a big drop from the 86.9% seen at the half year due to an […]
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