Interim results for the six months ending 30 June 2007 - Continuing to deliver against strategy

Brit Insurance Holdings PLC, the UK-domiciled international general insurer and reinsurer, today announces interim results for the six months ending 30 June 2007.
September 4, 2007

• Return on equity for the six month period of 12.1% (30 June 2006: 11.9%), annualised 24.2% (23.8%)
• Profit before tax £106.8m (30 June 2006: £106.0m)
• Profit before tax and before exchange adjustments arising from the IFRS treatment of non-monetary items £110.5m (30 June 2006: £118.5m)
• Investment return up 50.5% to £55.7m (30 June 2006: £37.0m). Minimal exposure to sub-prime
• Earnings per share 23.53p (30 June 2006: 22.99p)
• Net tangible assets per share up 6.8% to record 235.6p
• Interim dividend maintained at 7.5p, 50% of our minimum targeted annual distribution to shareholders

• Gross written premiums up 4.6% to £727.4m
• Underlying gross written premium up 7.8%
• Net earned premiums up 9.3% to a H1 record £570.6m
• Underwriting profit £70.3m (30 June 2006: £92.0m)
• Group combined ratio 87.7% (30 June 2006: 82.4%)
• Enhanced asset liability management through an innovative catastrophe swap contract
• £50m buy-back programme of ordinary shares successfully completed on 18 July 2007