Brit cuts UK private motor book by 60% as it reports £72.8m profit
Brit Insurance this morning reported that profit before tax excluding the effect of foreign exchange on non-monetary items increased by 12.2% to £72.8m for the first six months of 2010 (30 June 2009: £64.9m). It recorded a profit before tax of £77.5m (30 June 2009: £8.7m loss).
However the group noted gross written premium was 13.4% lower at £851.5m (30 June 2009: £983.0m) which it said "primarily reflects proactive management of the underwriting cycle and is in line with
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