Brit to reveal £48m profit

City AM reports that Brit Insurance will announce on Wednesday that it, has made a pre-tax profit of £48m in the six months to June compared with a £9m loss in the same period last year.

Analysts predict a 6% drop in gross premiums to £907m.

Brit’s shares closed at 910p on Friday. Analysts believe Brit shares, at 910p on Friday, will fall back to about 800p if private equity stalker Apollo abandons its pursuit.