Britannia results

The result for the Britannia Group for the year 2023/2024 is a surplus of US$58.2 million, which consists of an underwriting deficit of $5.3 million and an investment return of $63.5 million. The Britannia Group's strategic goal is to return to underwriting balance equivalent to a combined ratio of 100 per cent. It said the combined ratio for the year ended 20 February 2024 was 102 per cent (compared to 107 per cent in 2023 and 116 per cent in 2022). Calls and premiums were $288.8 million ($258.1 million for the prior year). Reinsurance costs were higher, both for the general excess of loss and the other reinsurances bought by the Britannia Group.