Brit Insurance has announced that claims arising from Hurricane Wilma, net of reinsurance recoveries and reinstatements, are an estimated £37.5m.
The group's estimate of claims arising from hurricanes Katrina, Rita and Wilma, net of reinsurance recoveries and reinstatements, totals £182.5m.
Brit said that in the absence of further exceptional claims or other unforeseen circumstances, Brit expects to remain in profit for 2005.
Chief executive Dane Douetil said: "Brit believes that the premium rating environment will improve in most of its business classes and significantly in those classes most directly affected by the catastrophe losses. We will therefore use the hardening market conditions to continue to grow our business particularly in non-correlating classes and our UK operations.
During the course of 2006, we will reduce our peak zone catastrophe exposures to further Brit's stated policy of reducing volatility in its earnings.
"The current market conditions will allow us to utilise more fully our strong balance sheet thereby increasing the return on equity for our shareholders."
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