Brit Insurance Holdings has announced the year 2000 results for its subsidiary Brit Insurance.
Overall gross written premiums were up 65% to £38m, with pre-tax profits increased to £6.2m from £4.4m.
Neil Eckert, chief executive of Brit Insurance Holdings, said: “This is a first-class result from our regulated subsidiary.
“It is the first tangible sign of the forecast recovery in the market and the result has exceeded our expectations.”
Dane Douetil, chief executive of Brit Insurance, said that although rates had greatly improved in 2001, further increases were needed to meet the company's growth strategy.