Brit Insurance Holdings PLC - Interim Results

Brit Insurance Holdings PLC, the specialist insurance group, today announces its interim results for the six months to 30 June 2002.
September 9, 2002


PRESS RELEASE For immediate release 24 September 2002 For publication in the United Kingdom only. Not for release, publication or distribution in, into or from any other jurisdiction including the United States of America, Canada, Japan, Australia or the Republic of Ireland. 24 September 2002
HIGHLIGHTS

Gross premiums written up 94% over comparable period last year
Significant improvement in combined ratio to 90% (for the year end 2001 : 155%)
Fully underwritten fundraising announced to raise approximately £200m before expenses
Brit Underwriting launched to produce unified underwriting strategy across group operations
Significant rate increases experienced - between 35% and 50% across most business classes
Contingency, Bloodstock, UK Household and Energy teams recruited
Equity Partnership Limited increased funds under management to US$ 1.3 billion


 
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