LONDON, UK, Oct. 1, 2004 (PRIMEZONE) -- RNS announcement
1st October 2004
BRIT INSURANCE HOLDINGS PLC ("Brit")
Hurricane Season
Following one of the most active hurricane seasons ever recorded the market will sustain material losses from hurricanes Charley, Frances, Ivan and Jeanne and typhoon Songda.
We have reviewed the overall impact of these losses on our current trading and estimate that pre-tax profits for the full year will be reduced by GBP35 million.
Underwriting conditions in other classes remain positive. We expect new business opportunities and a firmer rating environment as a consequence of these events.
On 7 September, Brit announced record interim pre-tax profits of GBP52.5 million.
This information is provided by RNS
The company news service from the London Stock Exchange