Brit Insurance Holdings

While Brit’s UK and Reinsurance units appear relatively small next to its Global Markets business, these two divisions, the UK division in particular, currently represent the greater underwriting challenges for the group

Although the UK based Brit Insurance Holdings managed to post another record net profit through a 2.8% increase from £133.8mn in 2006 to £137.6mn in 2007, it was very much against the background of a deteriorating underwriting environment, particularly within its UK commercial business (one of the group’s three strategic business units) where underwriting losses contributed significantly to the 42.0% fall in the group’s overall underwriting performance.