Lloyd's underwriter Brit Insurance Holdings has forecast £1.15bn in total gross premium income for 2003, following its acquisition of rival, PRI Group.
The bullish outlook came as the specialist insurer revealed its updated forecasts for the 2001 and 2002 years of account.
For the 2002 year of account, the newly formed syndicate 2987 wrote £575m (before acquisition costs) of gross premiums. Brit forecast a profit of between 9% and 14% on the syndicate's capacity.
Apart from an upbeat mid-point forecast of 15% profit for its motor syndicate 1202 on the 2001 year of account, Brit continued to forecast losses on its property, marine and aerospace syndicates for 2001.
Dane Douetil, chief executive of Brit Syndicates said: "The stability of forecasts is pleasing and the 2.5% improvement for our Motor Syndicate 1202 produces an outstanding result.
"We have made a strong start to 2003, but are also mindful of and comfortable with the quality and diversity of our portfolio."
