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Brit in red with loss of $187 million

Posted On: Aug. 2, 2022 10:06 AM CST

U.K.-based insurer Brit Ltd. posted a loss of nearly $187 million in the first half of the year as against a profit of around $204 million in the year-ago comparable period, as negative investment returns outweighed underwriting profits, Reinsurance News reported. The insurer’s gross written premium reached $2 billion, while its underwriting profit increased more than 160% year-on-year to $105 million.