Brit Group is set to break through the £1bn premium income barrier for the first time, the company said.

Forecasts for the 2003 year of account put the group's estimated gross written premium for its Lloyd's and non-Lloyd's operations at £1.01bn, with Brit's interest at £880m. The comparable figure for 2002 was £700m.

The group is counting particularly strong increases in its property and casualty business, where gross written premium is expected to increase to £400m for the 2003 year of account, from £184m in 2002.

Syndicate forecasts for the 2000 and 2001 years of account were stable.