BRiT INSURANCE HOLDINGS PLC - INTERIM RESULTS
IMPACT OF US EVENTS - MARKETS CONTINUE TO HARDEN

BRiT Insurance Holdings PLC, the specialist insurance group, today announces its interim results for the six months to 30 June 2001.
September 25,2001


BRiT INSURANCE HOLDINGS PLC - INTERIM RESULTSIMPACT OF US EVENTS - MARKETS CONTINUE TO HARDENBRiT Insurance Holdings PLC, the specialist insurance group, today announces its interim results for the six months to 30 June 2001.HIGHLIGHTSSee releases on US events dated 13 and 20 September 2001.Pre tax profit of £1.26m compared with first half loss in 2000 of £13.7mOperating profit, based on a longer term investment return, of £7.8m, an improvement from a loss of £6.9m.Net losses from the US terrorist attacks estimated to equate to 29p per BRiT share before taxIncrease in BRiT Insurance paid up capital from £50m to £70mLaunch of two new Lloyd's syndicatesRegulatory and capital provider approval to composite syndicateNon-core investment disposal programme continues with net disposals of £18.9m in first halfParticipated in launch of fund management business - BRiT owns 34.1% of Equity Partnership Limited (whose first fund has been listed)RESULTS6 months6 monthsYearendedendedended30 June30 June31 December2001 unaudited2000 unaudited2000 audited£'m£'m£'m
Gross premiums written204.6111.4249.0Net premiums written127.370.6181.4Net earned premiums67.435.3150.2Technical profit5.11.62.8Operating profit/(loss) basedon long-term rate ofinvestment return7.8(6.9)9.8Basic earnings per share0.29p(3.87p)0.28pDividends per share0.00p1.00p.10pnoneNet assets251.5242.6247.4
Net assets per share104p102p104pCombined Ratios96%108%106%The chairman's statement of figures is available as a downloadable For further information, please contact:Jo Welman, Chairman, BriT Insurance Holdings PLC020 7984 8515Neil Eckert, Chief Executive, BriT Insurance Holdings PLC020 7984 8511David Haggie, Haggie Financial020 7417 8989
 
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