Brit COR deteriorates to 96.5%
But profit before tax and operating profits both grow as the insurer described results as “sound in a challenging environment”.
The COR for insurer Brit hit 96.5 percent according to its interim results for the first half of 2016 which the insurer said was attributable to major losses.
This follows a COR of 90 percent for the first half of 2015. However profits increased with operating profit reaching $198.5m (£150.8m), up from $70.9m. Profit after tax hit $197.6m (2015: $6.4m).
GWP fell very slightly to just over £1bn, a decrease on the £1.1bn posted the previous year.
Mark Cloutier, group CEO of Brit, said: "Brit has
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Zurich appoints youngest ever regional head
Georgina Davis has been appointed head of regional market for the Midlands, South West and Wales at Zurich, succeeding Stephen Davis who is leaving for a new role at another business.
Axa bosses Walker and Zweibrucker on growing with brokers in commercial and retail
The commercial and retail divisions of Axa Insurance in the UK are growing, the respective CEOs have confirmed, outlining plans to expand with brokers over the rest of the year and beyond.
People Moves: 19 – 23 May 2025
Keep up to date with the latest personnel moves in insurance.
Analysis: Is the era of offshore capacity over, or is it poised for a comeback?
High profile casualties such as Gibraltar-based Enterprise Insurance Company (2016), and Danish providers Alpha (2018) and Gefion (2021) meant offshore capacity came under scrutiny at the end of the last decade. Today there appears to be less noise about similar players which begs the question are these overseas carriers no longer a factor? Or are they on the comeback trail? Saxon East investigate
Aviva’s Yabantu: Consistency of strategy needed in mid-market
Michael Yabantu, head of mid-market at Aviva, highlights the need for consistency in mid-market underwriting strategy, and shares how the insurer is improving response times and refreshing products.
QBE’s Fitzgerald on doubling in the regions, and what comes next
In the past three years, QBE has doubled its gross written premium in the regions and is not taking its “foot off the growth”, UK regions director Andy Fitzgerald tells Insurance Age, promising consistency for brokers.
Staying one-step ahead in HNW with Aviva’s transformation – Owen
“We are always making sure we want to be one step ahead,” Ann Owen, managing director of Aviva Private Clients, told Insurance Age as the provider refreshed its product suite with the launch of Refine Home.
Zurich CEO Jaksic hails speed of broker service as key in softening market
The need for speed when it comes to broker service has been exacerbated in the softening commercial market, according to Zurich UK CEO Drazen Jaksic.